Innovex International (NYSE:INVX) Hits New 12-Month High – What’s Next?

by · The Cerbat Gem

Innovex International, Inc. (NYSE:INVX – Get Free Report) shares hit a new 52-week high on Wednesday . The stock traded as high as $23.38 and last traded at $23.3580, with a volume of 51555 shares trading hands. The stock had previously closed at $22.71.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Innovex International in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Check Out Our Latest Research Report on INVX

Innovex International Trading Up 3.2%

The company has a debt-to-equity ratio of 0.02, a current ratio of 4.78 and a quick ratio of 2.93. The company has a market capitalization of $1.62 billion, a P/E ratio of 15.94 and a beta of 0.74. The business’s 50-day moving average price is $19.99 and its two-hundred day moving average price is $17.47.

Innovex International (NYSE:INVX – Get Free Report) last posted its quarterly earnings data on Wednesday, February 23rd. The company reported ($0.12) earnings per share (EPS) for the quarter. The firm had revenue of $87.23 million for the quarter. Innovex International had a return on equity of 8.51% and a net margin of 10.59%.

Hedge Funds Weigh In On Innovex International

A number of hedge funds have recently added to or reduced their stakes in INVX. US Bancorp DE raised its stake in Innovex International by 234.0% in the first quarter. US Bancorp DE now owns 1,533 shares of the company’s stock valued at $28,000 after purchasing an additional 1,074 shares in the last quarter. Covestor Ltd lifted its position in shares of Innovex International by 26,300.0% during the 3rd quarter. Covestor Ltd now owns 1,848 shares of the company’s stock worth $34,000 after buying an additional 1,841 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Innovex International by 31.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company’s stock worth $40,000 after purchasing an additional 511 shares in the last quarter. Westfuller Advisors LLC acquired a new stake in shares of Innovex International during the 3rd quarter valued at $53,000. Finally, First Horizon Advisors Inc. increased its stake in shares of Innovex International by 150.3% in the second quarter. First Horizon Advisors Inc. now owns 3,367 shares of the company’s stock valued at $53,000 after buying an additional 2,022 shares during the period.

Innovex International Company Profile

(Get Free Report)

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.

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