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

Wall Street Zen cut shares of Innovex International (NYSE:INVX) from a buy rating to a hold rating in a research note issued to investors on Saturday.

INVX has been the subject of several other reports. Johnson Rice upgraded Innovex International to a “strong-buy” rating in a research report on Friday, May 30th. Barclays reduced their price objective on Innovex International from $16.00 to $13.00 and set an “underweight” rating for the company in a research report on Friday, May 9th.

Innovex International Stock Performance

Shares of INVX stock opened at $15.97 on Friday. The company has a quick ratio of 2.49, a current ratio of 4.34 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average of $15.35 and a two-hundred day moving average of $15.93. Innovex International has a 52 week low of $11.93 and a 52 week high of $19.42. The company has a market cap of $1.10 billion, a P/E ratio of 6.10 and a beta of 0.82.

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

Institutional Investors Weigh In On Innovex International

A number of institutional investors have recently added to or reduced their stakes in INVX. US Bancorp DE lifted its position in Innovex International by 234.0% in 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. GAMMA Investing LLC lifted its position in Innovex International by 169.7% in the first quarter. GAMMA Investing LLC now owns 2,101 shares of the company’s stock worth $38,000 after purchasing an additional 1,322 shares during the period. Smartleaf Asset Management LLC lifted its position in Innovex International by 264.9% in the first quarter. Smartleaf Asset Management LLC now owns 3,375 shares of the company’s stock worth $60,000 after purchasing an additional 2,450 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Innovex International in the fourth quarter worth approximately $88,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Innovex International by 15.6% in the first 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 in 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.