Innio N.V. (NASDAQ:INIO) Stock Has Consensus Target Price of $42.20 According to Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Innio, with seven buy ratings, one strong buy, three holds, and one sell. The average 12-month price target is $42.20, nearly double the reported opening price of $21.35.
• Recent coverage includes price targets ranging from $35 to $47, with Bank of America, JPMorgan, and Morgan Stanley initiating coverage at positive ratings.
• Innio exceeded quarterly earnings expectations, reporting $0.08 EPS versus the $0.05 consensus and revenue of $937.7 million. Several institutional investors also established new positions in the company during the second quarter.

Shares of Innio N.V. (NASDAQ:INIO - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twelve ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $42.20.

INIO has been the topic of several research analyst reports. The Goldman Sachs Group set a $35.00 price target on shares of Innio in a research note on Wednesday, September 30th. Zacks Research upgraded shares of Innio to a "hold" rating in a research note on Tuesday, June 30th. Bank of America initiated coverage on Innio in a report on Monday, June 29th. They set a "buy" rating and a $46.00 price objective on the stock. JPMorgan Chase & Co. began coverage on Innio in a research report on Monday, June 29th. They set an "overweight" rating and a $44.00 target price on the stock. Finally, Morgan Stanley began coverage on Innio in a report on Monday, June 29th. They issued an "overweight" rating and a $47.00 target price for the company.

Innio Stock Up 12.5%

Shares of INIO opened at $21.35 on Wednesday. The firm has a market capitalization of $16.01 billion and a P/E ratio of 266.88. Innio has a 52-week low of $17.45 and a 52-week high of $42.95. The company has a debt-to-equity ratio of 11.90, a current ratio of 1.25 and a quick ratio of 0.79. The company has a 50 day simple moving average of $22.16.

Innio (NASDAQ:INIO - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.03. The company had revenue of $937.70 million for the quarter. On average, equities analysts anticipate that Innio will post 0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Innio

Large investors have recently modified their holdings of the company. Wellington Management Group LLP purchased a new stake in Innio in the 2nd quarter valued at $1,117,000. Troluce Capital Advisors LLC purchased a new position in Innio during the 2nd quarter worth $1,483,000. WINTON GROUP Ltd acquired a new position in Innio in the second quarter valued at $2,990,000. Readystate Asset Management LP purchased a new stake in shares of Innio in the second quarter valued at about $3,975,000. Finally, HBK Investments L P acquired a new position in Innio in the 2nd quarter valued at about $6,031,000.

Innio Company Profile

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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