Innovex International (NYSE:INVX) Posts Quarterly Earnings Results, Beats Estimates By $0.21 EPS

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

Innovex International Stock Performance

INVX stock traded down $0.44 on Tuesday, reaching $16.13. The company’s stock had a trading volume of 421,128 shares, compared to its average volume of 404,483. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 11.44 and a beta of 0.89. The company has a fifty day moving average price of $15.57. Innovex International has a 12-month low of $12.54 and a 12-month high of $25.19. The company has a current ratio of 3.87, a quick ratio of 2.17 and a debt-to-equity ratio of 0.01.

Insider Buying and Selling at Innovex International

In other news, CFO Kendal Reed bought 3,765 shares of Innovex International stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $13.28 per share, for a total transaction of $49,999.20. Following the acquisition, the chief financial officer now owns 186,232 shares of the company’s stock, valued at approximately $2,473,160.96. The trade was a 2.06 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on INVX. Barclays decreased 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.

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.