Innovex International (NYSE:INVX) Announces Earnings Results

Innovex International (NYSE:INVX) issued its quarterly earnings results on Tuesday. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.21, Zacks reports. Innovex International had a negative return on equity of 0.73% and a net margin of 12.31%.

Innovex International Price Performance

Shares of NYSE INVX traded down $0.44 during mid-day trading on Tuesday, reaching $16.13. 421,251 shares of the company’s stock traded hands, compared to its average volume of 404,551. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.17 and a current ratio of 3.87. The business has a 50-day moving average of $15.57. The company has a market capitalization of $1.08 billion, a PE ratio of 11.44 and a beta of 0.89. Innovex International has a 1-year low of $12.54 and a 1-year high of $25.19.

Insider Buying and Selling

In other Innovex International news, CFO Kendal Reed purchased 3,765 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost of $13.28 per share, for a total transaction of $49,999.20. Following the completion of the acquisition, the chief financial officer now 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

INVX has been the topic of a number of research analyst reports. Barclays cut their price objective on shares of Innovex International from $21.00 to $15.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 26th. Pickering Energy Partners upgraded Innovex International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th.

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.