Innio (NASDAQ:INIO) Sets New 1-Year Low Following Analyst Downgrade

Key Points

• Innio shares fell to a new 52-week low of $17.00 after Morgan Stanley cut its price target from $47 to $40, despite maintaining an overweight rating.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $39.50, although ratings include one sell and three holds.
• Several hedge funds initiated sizable positions in the second quarter, while Innio’s latest quarterly earnings exceeded estimates with EPS of $0.08 versus the $0.05 consensus.

Innio N.V. (NASDAQ:INIO - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Wednesday after Morgan Stanley lowered their price target on the stock from $47.00 to $40.00. Morgan Stanley currently has an overweight rating on the stock. Innio traded as low as $17.00 and last traded at $17.0260, with a volume of 563,982 shares. The stock had previously closed at $18.31.

A number of other equities analysts also recently commented on INIO. Robert W. Baird set a $37.00 target price on Innio in a research note on Wednesday, July 29th. The Goldman Sachs Group set a $35.00 price target on Innio in a research report on Wednesday, September 30th. Weiss Ratings began coverage on Innio in a report on Monday, August 31st. They issued a "sell (d)" rating on the stock. Zacks Research upgraded Innio to a "hold" rating in a research note on Tuesday, June 30th. Finally, UBS Group began coverage on Innio in a research report on Monday, June 29th. They issued a "buy" rating and a $47.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.50.

Institutional Investors Weigh In On Innio

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

Innio Price Performance

The stock has a fifty day moving average price of $21.62. The company has a market capitalization of $12.70 billion and a price-to-earnings ratio of 211.84. 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 posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $937.70 million during the quarter. On average, equities analysts forecast that Innio N.V. will post 0.37 earnings per share for the current fiscal year.

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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