Innovex International (NYSE:INVX) Posts Quarterly Earnings Results

Innovex International (NYSE:INVX) announced its quarterly earnings data on Tuesday. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 Stock Performance

Shares of Innovex International stock traded down $0.44 during midday trading on Tuesday, hitting $16.13. 421,251 shares of the company traded hands, compared to its average volume of 404,551. The business has a fifty day simple moving average of $15.57. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.17 and a current ratio of 3.87. Innovex International has a 12 month low of $12.54 and a 12 month high of $25.19. The stock has a market capitalization of $1.08 billion, a PE ratio of 11.44 and a beta of 0.89.

Insiders Place Their Bets

In related news, CFO Kendal Reed acquired 3,765 shares of the stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $13.28 per share, for a total transaction of $49,999.20. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Pickering Energy Partners upgraded shares of Innovex International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Barclays decreased their price target on shares of Innovex International from $21.00 to $15.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 26th.

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.