Innio (NASDAQ:INIO) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Innio from “hold” to “buy.” MarketBeat reports a consensus “Moderate Buy” rating and an average analyst price target of $36.80.
• Innio’s latest quarterly results exceeded expectations, with EPS of $0.15 versus the $0.11 consensus estimate and revenue of $1.17 billion. Analysts expect full-year EPS of $0.40.
• The stock opened at $16.30, well below its 12-month high of $42.95, while institutional investors—including Dragoneer Investment Group—recently established new positions.

Innio (NASDAQ:INIO - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

INIO has been the subject of a number of other reports. Royal Bank Of Canada raised Innio from a "sector perform" rating to an "outperform" rating and lowered their price target for the company from $39.00 to $35.00 in a report on Thursday, July 30th. Weiss Ratings cut Innio from a "sell (d)" rating to a "sell (d-)" rating in a research report on Wednesday, October 14th. The Goldman Sachs Group reissued a "buy" rating and issued a $31.00 target price on shares of Innio in a report on Tuesday. Robert W. Baird set a $37.00 target price on Innio in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. cut their price target on Innio from $40.00 to $33.00 and set an "overweight" rating for the company in a research note on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Innio presently has an average rating of "Moderate Buy" and a consensus target price of $36.80.

Innio Price Performance

INIO opened at $16.30 on Friday. The company has a debt-to-equity ratio of 7.50, a current ratio of 1.27 and a quick ratio of 0.79. The firm's 50 day moving average is $19.11. Innio has a twelve month low of $14.58 and a twelve month high of $42.95.

Innio (NASDAQ:INIO - Get Free Report) last issued its earnings results on Tuesday, October 27th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. Innio had a net margin of 2.71% and a return on equity of 63.87%. The company had revenue of $1.17 billion for the quarter. Equities research analysts anticipate that Innio will post 0.40 EPS for the current fiscal year.

Institutional Investors Weigh In On Innio

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sterling Capital Management LLC bought a new position in shares of Innio in the third quarter worth about $43,000. HBK Investments L P bought a new position in shares of Innio during the 2nd quarter valued at approximately $6,031,000. Junto Capital Management LP bought a new position in shares of Innio during the 2nd quarter valued at approximately $26,193,000. Dragoneer Investment Group LLC purchased a new stake in Innio in the 2nd quarter worth approximately $112,718,000. Finally, WINTON GROUP Ltd purchased a new stake in Innio in the 2nd quarter worth approximately $2,990,000.

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.

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