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

Innovex International (NYSE:INVX) had its target price boosted by Barclays from $15.00 to $16.00 in a report published on Wednesday,Benzinga reports. The firm currently has an underweight rating on the stock.

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

Innovex International Price Performance

INVX stock opened at $17.56 on Wednesday. The firm has a fifty day simple moving average of $16.15. Innovex International has a 12 month low of $12.54 and a 12 month high of $25.19. The stock has a market cap of $1.18 billion, a P/E ratio of 12.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.17 and a current ratio of 3.87.

Innovex International (NYSE:INVX) last announced 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. The company had revenue of $250.69 million for the quarter. Innovex International had a net margin of 12.31% and a negative return on equity of 0.73%.

Insider Transactions at Innovex International

In related news, CFO Kendal Reed purchased 3,765 shares of the stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $13.28 per share, with a total value of $49,999.20. Following the purchase, the chief financial officer now directly owns 186,232 shares in the company, valued at $2,473,160.96. This trade represents a 2.06 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Innovex International

A number of institutional investors and hedge funds have recently made changes to their positions in INVX. Brandes Investment Partners LP grew its stake in shares of Innovex International by 41.3% during the 4th quarter. Brandes Investment Partners LP now owns 6,304,068 shares of the company’s stock worth $88,068,000 after purchasing an additional 1,841,686 shares during the period. Madison Avenue Partners LP grew its stake in Innovex International by 64.6% in the 4th quarter. Madison Avenue Partners LP now owns 1,686,476 shares of the company’s stock valued at $23,560,000 after acquiring an additional 662,009 shares during the last quarter. Vanguard Group Inc. grew its stake in Innovex International by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 4,263,005 shares of the company’s stock valued at $59,554,000 after acquiring an additional 221,598 shares during the last quarter. Invesco Ltd. grew its stake in Innovex International by 175.8% in the 4th quarter. Invesco Ltd. now owns 332,468 shares of the company’s stock valued at $4,645,000 after acquiring an additional 211,907 shares during the last quarter. Finally, GeoSphere Capital Management LLC acquired a new stake in Innovex International in the 4th quarter valued at about $2,794,000.

About Innovex International

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.