Innovex International (NYSE:INVX) Shares Up 5.2% – Time to Buy?

Innovex International, Inc. (NYSE:INVX)’s share price 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

Several analysts recently commented on INVX shares. Pickering Energy Partners upgraded Innovex International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Barclays upped their price objective on shares of Innovex International from $15.00 to $16.00 and gave the company an “underweight” rating in a research note on Wednesday.

Innovex International Trading Up 5.8 %

The company has a 50-day moving average price of $16.32. The firm has a market capitalization of $1.26 billion, a PE ratio of 13.27 and a beta of 0.89. The company has a quick ratio of 2.17, a current ratio of 3.87 and a debt-to-equity ratio of 0.01.

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

Insider Activity at Innovex International

In other Innovex International news, CFO Kendal Reed purchased 3,765 shares of Innovex International stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average price 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 $2,473,160.96. This trade represents a 2.06 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Barclays PLC bought a new stake in shares of Innovex International during the third quarter worth about $874,000. JPMorgan Chase & Co. bought a new stake in Innovex International during the 3rd quarter worth approximately $2,261,000. Principal Financial Group Inc. purchased a new stake in shares of Innovex International in the third quarter worth approximately $2,383,000. Moody National Bank Trust Division bought a new position in shares of Innovex International in the fourth quarter valued at approximately $234,000. Finally, Sanctuary Advisors LLC boosted its position in shares of Innovex International by 20.5% during the fourth quarter. Sanctuary Advisors LLC now owns 47,146 shares of the company’s stock valued at $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.