Innio (NASDAQ:INIO) Price Target Cut to $33.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan cut Innio’s price target from $40 to $33 while maintaining an “overweight” rating, implying 106.12% upside from the prior close.
• Analyst sentiment remains positive overall, with Innio carrying a “Moderate Buy” consensus rating and an average price target of $38.40.
• Innio shares fell to $16.01, near their one-year low of $15.30, despite the company beating quarterly EPS estimates; revenue totaled $937.7 million.

Innio (NASDAQ:INIO - Get Free Report) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $40.00 to $33.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 106.12% from the company's previous close.

Other equities analysts have also recently issued research reports about the company. UBS Group assumed coverage on Innio in a research note on Monday, June 29th. They issued a "buy" rating and a $47.00 price objective for the company. The Goldman Sachs Group set a $35.00 price objective on Innio in a research report on Wednesday, September 30th. Robert W. Baird set a $37.00 target price on shares of Innio in a research note on Wednesday, July 29th. Royal Bank Of Canada raised shares of Innio from a "sector perform" rating to an "outperform" rating and reduced their target price for the company from $39.00 to $35.00 in a report on Thursday, July 30th. Finally, Zacks Research upgraded shares of Innio to a "hold" rating in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Innio currently has an average rating of "Moderate Buy" and an average price target of $38.40.

Innio Stock Performance

Shares of Innio stock traded down $0.23 during trading hours on Monday, reaching $16.01. 3,493,675 shares of the company were exchanged, compared to its average volume of 4,892,005. The company has a market capitalization of $12.01 billion and a price-to-earnings ratio of 200.13. The company has a current ratio of 1.25, a quick ratio of 0.79 and a debt-to-equity ratio of 11.90. Innio has a 1 year low of $15.30 and a 1 year high of $42.95. The firm has a fifty day moving average of $21.02.

Innio (NASDAQ:INIO - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.03. The company had revenue of $937.70 million during the quarter. Research analysts expect that Innio will post 0.37 earnings per share for the current year.

Institutional Trading of Innio

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. HBK Investments L P purchased a new stake in Innio during the 2nd quarter worth about $6,031,000. Junto Capital Management LP purchased a new position in shares of Innio in the 2nd quarter valued at about $26,193,000. Dragoneer Investment Group LLC purchased a new position in shares of Innio in the 2nd quarter valued at about $112,718,000. WINTON GROUP Ltd acquired a new stake in shares of Innio during the 2nd quarter worth about $2,990,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Innio during the 2nd quarter worth about $13,842,000.

About Innio

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.

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