Piper Sandler Initiates Coverage on Innio (NASDAQ:INIO)

Research analysts at Piper Sandler assumed coverage on shares of Innio (NASDAQ:INIO) in a note issued to investors on Friday, Briefing.com reports. The firm set an “overweight” rating and a $21.00 price target on the stock. Piper Sandler‘s price objective suggests a potential upside of 38.52% from the company’s previous close.

A number of other research firms have also weighed in on INIO. The Goldman Sachs Group reaffirmed a “buy” rating and set a $31.00 target price on shares of Innio in a report on Tuesday, October 27th. JPMorgan Chase & Co. cut their price target on shares of Innio from $40.00 to $33.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Citigroup reduced their price target on shares of Innio from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, October 28th. BNP Paribas Exane reduced their price target on shares of Innio from $43.00 to $35.00 and set an “outperform” rating for the company in a research report on Tuesday, October 27th. Finally, Royal Bank Of Canada raised shares of Innio from a “sector perform” rating to an “outperform” rating and decreased their price target for the stock from $39.00 to $35.00 in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.36.

Innio Trading Up 0.4%

Shares of INIO opened at $15.16 on Friday. The firm’s 50-day moving average is $17.94. Innio has a twelve month low of $12.95 and a twelve month high of $42.95. The company has a current ratio of 1.27, a quick ratio of 0.80 and a debt-to-equity ratio of 7.50.

Innio (NASDAQ:INIO) last announced its quarterly earnings results on Tuesday, October 27th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Innio had a net margin of 2.71% and a return on equity of 63.87%. The firm had revenue of $1.17 billion for the quarter. As a group, equities research analysts forecast that Innio will post 0.40 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. AlphaGrep UK Ltd bought a new position in shares of Innio in the third quarter worth approximately $345,000. State Street Corp bought a new stake in Innio during the third quarter valued at approximately $16,096,000. Fourier Capital Management Ltd lifted its position in Innio by 229.0% during the third quarter. Fourier Capital Management Ltd now owns 491,334 shares of the company’s stock valued at $8,908,000 after purchasing an additional 342,004 shares during the last quarter. Arrow Capital Pty Ltd purchased a new position in Innio in the 3rd quarter worth approximately $4,532,000. Finally, Chicago Partners Investment Group LLC purchased a new position in Innio in the 3rd quarter worth approximately $157,000.

Innio Company Profile

INNIO Group is an energy technology company that designs and manufactures reciprocating gas engines and related power generation and compression systems. Its products are marketed under the Jenbacher and Waukesha brands, alongside digital monitoring, maintenance and service offerings. The company’s equipment is used in applications including onsite and distributed power generation, industrial operations and gas compression. INNIO supports customers in markets around the world and offers solutions designed to operate with fuels such as natural gas and biogas.