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

Innovex International (NYSE:INVX) released its quarterly earnings results on Tuesday. The company reported $0.47 earnings per share 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 Price Performance

NYSE INVX traded down $0.44 during trading hours on Tuesday, reaching $16.13. 421,128 shares of the stock traded hands, compared to its average volume of 404,483. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.17 and a current ratio of 3.87. The firm has a market cap of $1.08 billion, a P/E ratio of 11.44 and a beta of 0.89. The firm has a 50 day moving average price of $15.57. Innovex International has a 1 year low of $12.54 and a 1 year high of $25.19.

Insider Activity at Innovex International

In other Innovex International news, CFO Kendal Reed bought 3,765 shares of Innovex International stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average price of $13.28 per share, with a total value of $49,999.20. Following the acquisition, the chief financial officer now owns 186,232 shares in the company, valued at approximately $2,473,160.96. This trade represents a 2.06 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on INVX shares. Pickering Energy Partners raised Innovex International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. 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.

About Innovex International

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.