Wall Street Zen Upgrades Innio (NASDAQ:INIO) to Buy

Innio (NASDAQ:INIO) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

Other equities research analysts have also issued reports about the stock. Robert W. Baird set a $37.00 target price on shares of Innio in a report on Wednesday, July 29th. Citigroup dropped their price objective on shares of Innio from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday. Morgan Stanley upped their target price on Innio from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on shares of Innio from $40.00 to $33.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Finally, Weiss Ratings cut shares of Innio from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.80.

Innio Price Performance

Shares of NASDAQ:INIO opened at $16.30 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.80 and a debt-to-equity ratio of 7.50. The company has a market cap of $12.22 billion and a price-to-earnings ratio of 203.75. The stock’s 50-day moving average is $19.11. Innio has a 12 month low of $14.58 and a 12 month high of $42.95.

Innio (NASDAQ:INIO) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. The firm had revenue of $1.17 billion during the quarter. Innio had a return on equity of 63.87% and a net margin of 2.71%. As a group, equities analysts predict that Innio will post 0.40 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Chicago Partners Investment Group LLC acquired a new position in Innio during the 3rd quarter worth approximately $157,000. Sterling Capital Management LLC acquired a new position in Innio during the 3rd quarter valued at about $43,000. HBK Investments L P bought a new stake in shares of Innio in the 2nd quarter worth approximately $6,031,000. Junto Capital Management LP acquired a new stake in Innio during the 2nd quarter worth about $26,193,000. Finally, Dragoneer Investment Group LLC bought a new stake in Innio in the second quarter worth $112,718,000.

Innio Company Profile

INNIO is an energy technology company that provides power-generation and gas-compression solutions for industrial, commercial and utility customers. Its portfolio includes Jenbacher gas engines and Waukesha engines, along with associated equipment, digital tools and long-term service offerings.

The company’s solutions are designed for applications including combined heat and power, distributed power generation, microgrids and gas compression. INNIO supports a range of fuel sources, including natural gas, biogas and hydrogen blends, helping customers produce electricity and useful heat while supporting grid reliability and energy-system flexibility.

INNIO was established in 2018 following the acquisition of GE’s Distributed Power business by Advent International.