Innio (NASDAQ:INIO) Given New $22.00 Price Target at Citigroup

Innio (NASDAQ:INIO) had its target price cut by stock analysts at Citigroup from $30.00 to $22.00 in a report issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 18.22% from the stock’s previous close.

A number of other research firms have also weighed in on INIO. Robert W. Baird set a $37.00 target price on shares of Innio in a report on Wednesday, July 29th. UBS Group started coverage on Innio in a research note on Monday, June 29th. They issued a “buy” rating and a $47.00 target price on the stock. Zacks Research upgraded Innio to a “hold” rating in a report on Tuesday, June 30th. Bank of America initiated coverage on Innio in a research report on Monday, June 29th. They set a “buy” rating and a $46.00 price target for the company. Finally, BNP Paribas Exane assumed coverage on Innio in a report on Monday, June 29th. They issued an “outperform” rating and a $48.00 price objective for the company. One 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $40.20.

Innio Price Performance

INIO traded down $1.18 during trading on Monday, hitting $18.61. 3,463,538 shares of the stock traded hands, compared to its average volume of 4,858,036. The company has a market cap of $13.96 billion and a price-to-earnings ratio of 232.62. 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 moving average price of $21.93. Innio has a 12-month low of $17.45 and a 12-month high of $42.95.

Innio (NASDAQ:INIO) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $937.70 million during the quarter. As a group, equities analysts predict that Innio will post 0.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP bought a new position in Innio in the 2nd quarter worth $1,117,000. Troluce Capital Advisors LLC bought a new stake in shares of Innio during the 2nd quarter valued at about $1,483,000. WINTON GROUP Ltd bought a new stake in shares of Innio during the 2nd quarter valued at about $2,990,000. Readystate Asset Management LP purchased a new position in shares of Innio during the second quarter valued at about $3,975,000. Finally, HBK Investments L P purchased a new position in shares of Innio during the second 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.