Innovex International (NYSE:INVX) Price Target Raised to $16.00 at Barclays

Innovex International (NYSE:INVX) had its price target hoisted by investment analysts at Barclays from $15.00 to $16.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Barclays‘s price objective points to a potential downside of 5.88% from the company’s current price.

Separately, Pickering Energy Partners upgraded shares of Innovex International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th.

Innovex International Stock Performance

Innovex International stock opened at $17.00 on Wednesday. The company has a quick ratio of 2.17, a current ratio of 3.87 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.14 billion, a P/E ratio of 12.06 and a beta of 0.89. The company has a 50 day moving average of $16.15. Innovex International has a 1 year low of $12.54 and a 1 year high of $25.19.

Innovex International (NYSE:INVX) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.21. Innovex International had a negative return on equity of 0.73% and a net margin of 12.31%. The firm had revenue of $250.69 million for the quarter.

Insider Transactions at Innovex International

In other news, CFO Kendal Reed acquired 3,765 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average cost of $13.28 per share, with a total value of $49,999.20. Following the transaction, the chief financial officer now owns 186,232 shares in the company, valued at approximately $2,473,160.96. This trade represents a 2.06 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of Innovex International

A number of hedge funds and other institutional investors have recently bought and sold shares of INVX. Barclays PLC purchased a new position in shares of Innovex International in the 3rd quarter valued at about $874,000. JPMorgan Chase & Co. purchased a new position in Innovex International in the third quarter valued at approximately $2,261,000. Principal Financial Group Inc. acquired a new stake in Innovex International during the third quarter worth approximately $2,383,000. Moody National Bank Trust Division acquired a new stake in Innovex International during the fourth quarter worth approximately $234,000. Finally, Sanctuary Advisors LLC lifted its position in shares of Innovex International by 20.5% during the 4th quarter. Sanctuary Advisors LLC now owns 47,146 shares of the company’s stock worth $659,000 after buying an additional 8,008 shares during the last quarter.

Innovex International Company Profile

Innovex International, Inc engages in the provision of solutions for both onshore and offshore applications within the oil and gas industry. The company was founded on September 15, 2016 and is headquartered in Humble, TX.