Innio (NASDAQ:INIO) Stock Gets Price Target Cut from Morgan Stanley

Key Points

• Morgan Stanley cut Innio’s price target from $47 to $40 but maintained an “overweight” rating, implying substantial upside from the stock’s $16.98 price.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and average price target of $39.50, despite targets ranging from $22 to $48.
• Innio’s latest quarterly results beat expectations, reporting $0.08 in adjusted earnings per share versus a $0.05 estimate, while several hedge funds recently initiated stakes in the company.

Innio (NASDAQ:INIO - Get Free Report) had its target price decreased by analysts at Morgan Stanley from $47.00 to $40.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's price target would suggest a potential upside of 135.59% from the stock's current price.

A number of other analysts have also issued reports on the company. Royal Bank Of Canada raised Innio from a "sector perform" rating to an "outperform" rating and dropped their target price for the stock from $39.00 to $35.00 in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Innio in a research note on Monday, June 29th. They issued a "hold" rating and a $41.00 price target for the company. Citigroup cut their price target on shares of Innio from $30.00 to $22.00 and set a "neutral" rating on the stock in a report on Monday. The Goldman Sachs Group set a $35.00 price target on shares of Innio in a report on Wednesday, September 30th. Finally, BNP Paribas Exane initiated coverage on shares of Innio in a research note on Monday, June 29th. They set an "outperform" rating and a $48.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $39.50.

Innio Stock Performance

INIO stock traded down $1.33 during trading on Wednesday, hitting $16.98. The stock had a trading volume of 917,042 shares, compared to its average volume of 4,811,934. Innio has a 1-year low of $16.84 and a 1-year high of $42.95. The company has a market capitalization of $12.73 billion and a PE ratio of 212.23. The company has a 50 day moving average price of $21.62. The company has a debt-to-equity ratio of 11.90, a quick ratio of 0.79 and a current ratio of 1.25.

Innio (NASDAQ:INIO - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The business had revenue of $937.70 million during the quarter. As a group, sell-side analysts forecast that Innio will post 0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Innio

Hedge funds have recently added to or reduced their stakes in the stock. Dragoneer Investment Group LLC acquired a new stake in shares of Innio during the second quarter valued at approximately $112,718,000. Value Aligned Research Advisors LLC bought a new position in Innio in the second quarter worth $53,605,000. Junto Capital Management LP bought a new stake in shares of Innio in the 2nd quarter worth about $26,193,000. Squarepoint Ops LLC acquired a new stake in Innio in the 2nd quarter valued at about $13,842,000. Finally, HBK Investments L P acquired a new stake in Innio in the second quarter worth about $6,031,000.

About Innio

INNIO Group Holding GmbH develops and provides energy solutions for power generation and compression applications. Its portfolio includes gas engines, combined heat and power systems, distributed energy systems, and related equipment and services designed for industrial, commercial, utility, and infrastructure customers.

The company operates through its Jenbacher and Waukesha brands. Jenbacher products are used for distributed power generation, cogeneration, renewable-gas applications, and energy-transition projects, while Waukesha products primarily serve natural-gas engine applications, including power generation and mechanical-drive systems for the oil and gas industry.

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