Innovex International (NYSE:INVX) Cut to Hold at Wall Street Zen

Innovex International (NYSE:INVX) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

INVX has been the topic of a number of other research reports. Barclays decreased their target price on shares of Innovex International from $16.00 to $13.00 and set an “underweight” rating on the stock in a research report on Friday, May 9th. Johnson Rice upgraded Innovex International to a “strong-buy” rating in a report on Friday, May 30th.

Innovex International Stock Performance

NYSE:INVX opened at $15.97 on Friday. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 6.10 and a beta of 0.82. The business has a 50 day moving average of $15.35 and a 200 day moving average of $15.91. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.34 and a quick ratio of 2.49. Innovex International has a 1-year low of $11.93 and a 1-year high of $19.42.

Innovex International (NYSE:INVX) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.03). The business had revenue of $240.42 million for the quarter, compared to analysts’ expectations of $247.73 million. Innovex International had a return on equity of 7.14% and a net margin of 16.68%.

Institutional Trading of Innovex International

A number of institutional investors have recently made changes to their positions in INVX. PNC Financial Services Group Inc. raised its holdings in Innovex International by 15.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,880 shares of the company’s stock valued at $106,000 after buying an additional 794 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Innovex International by 4.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,626 shares of the company’s stock valued at $274,000 after acquiring an additional 836 shares during the period. Maryland State Retirement & Pension System raised its stake in shares of Innovex International by 9.0% during the fourth quarter. Maryland State Retirement & Pension System now owns 12,681 shares of the company’s stock valued at $177,000 after acquiring an additional 1,047 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Innovex International by 234.0% during the first quarter. US Bancorp DE now owns 1,533 shares of the company’s stock worth $28,000 after purchasing an additional 1,074 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in shares of Innovex International by 3.3% during the fourth quarter. Prudential Financial Inc. now owns 38,001 shares of the company’s stock worth $531,000 after purchasing an additional 1,200 shares during the period.

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.