Innovex International (NYSE:INVX) Trading Up 5.2% - Still a Buy?

Innovex International, Inc. (NYSE:INVX - Get Free Report) shot up 5.2% during trading on Friday . The company traded as high as $18.60 and last traded at $18.60. 25,309 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 424,666 shares. The stock had previously closed at $17.68.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on INVX. Pickering Energy Partners upgraded Innovex International from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. Barclays upped their target price on Innovex International from $15.00 to $16.00 and gave the company an "underweight" rating in a research note on Wednesday.

Innovex International Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 3.87 and a quick ratio of 2.17. The stock has a 50 day simple moving average of $16.42. The company has a market cap of $1.29 billion, a PE ratio of 13.23 and a beta of 0.83.

Innovex International (NYSE:INVX - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.47 earnings per share (EPS) for the quarter, topping 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 during the quarter.

Remove Ads

Insiders Place Their Bets

In related news, CFO Kendal Reed acquired 3,765 shares of the company's stock in a transaction on Friday, December 13th. The stock was purchased at an average cost of $13.28 per share, for a total transaction of $49,999.20. Following the completion of the purchase, the chief financial officer now directly owns 186,232 shares of the company's stock, valued at $2,473,160.96. The trade was a 2.06 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.10% of the company's stock.

Institutional Trading of Innovex International

Several large investors have recently made changes to their positions in the business. Two Sigma Advisers LP bought a new stake in shares of Innovex International during the fourth quarter worth $162,000. Two Sigma Investments LP grew its holdings in shares of Innovex International by 5.4% during the fourth quarter. Two Sigma Investments LP now owns 51,902 shares of the company's stock worth $725,000 after purchasing an additional 2,651 shares during the last quarter. ProShare Advisors LLC bought a new stake in shares of Innovex International during the fourth quarter worth $145,000. Madison Avenue Partners LP grew its holdings in shares of Innovex International by 64.6% during the fourth quarter. Madison Avenue Partners LP now owns 1,686,476 shares of the company's stock worth $23,560,000 after purchasing an additional 662,009 shares during the last quarter. Finally, Man Group plc bought a new stake in shares of Innovex International during the fourth quarter worth $681,000.

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.