Innio (NASDAQ:INIO) Stock Rating Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Innio (NASDAQ:INIO) from a hold rating to a buy rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Other equities research analysts have also issued research reports about the stock. Royal Bank Of Canada upgraded shares of Innio from a “sector perform” rating to an “outperform” rating and dropped their price target for the company from $39.00 to $35.00 in a research note on Thursday, July 30th. The Goldman Sachs Group reiterated a “buy” rating and set a $31.00 price objective on shares of Innio in a research report on Tuesday. BNP Paribas Exane decreased their price objective on Innio from $43.00 to $35.00 and set an “outperform” rating for the company in a report on Tuesday, October 27th. Robert W. Baird set a $37.00 price objective on Innio in a report on Wednesday, July 29th. Finally, Citigroup lowered their target price on Innio from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

Innio Stock Performance

Shares of INIO opened at $16.30 on Friday. The company’s fifty day moving average price is $19.11. The firm has a market capitalization of $12.22 billion and a P/E ratio of 203.75. The company has a current ratio of 1.27, a quick ratio of 0.79 and a debt-to-equity ratio of 7.50. Innio has a 1 year low of $14.58 and a 1 year high of $42.95.

Innio (NASDAQ:INIO) last issued its quarterly earnings data on Tuesday, October 27th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. The firm had revenue of $1.17 billion for the quarter. Innio had a net margin of 2.71% and a return on equity of 63.87%. Analysts predict that Innio will post 0.40 EPS for the current year.

Institutional Trading of Innio

A number of institutional investors have recently made changes to their positions in the stock. Dragoneer Investment Group LLC acquired a new position in shares of Innio during the 2nd quarter valued at $112,718,000. Value Aligned Research Advisors LLC bought a new stake in shares of Innio in the 2nd quarter worth $53,605,000. Junto Capital Management LP acquired a new stake in shares of Innio in the second quarter valued at $26,193,000. Squarepoint Ops LLC acquired a new stake in shares of Innio in the second quarter valued at $13,842,000. Finally, HBK Investments L P acquired a new stake in shares of Innio in the second quarter valued at $6,031,000.

About Innio

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.