Brokerages Set Innio N.V. (NASDAQ:INIO) Price Target at $42.90

Shares of Innio N.V. (NASDAQ:INIO) have been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $42.90.

A number of analysts have recently commented on INIO shares. Royal Bank Of Canada upgraded Innio from a “sector perform” rating to an “outperform” rating and dropped their price objective for the stock from $39.00 to $35.00 in a report on Thursday, July 30th. Robert W. Baird set a $37.00 price target on Innio in a research report on Wednesday, July 29th. Wall Street Zen upgraded Innio to a “hold” rating in a research note on Saturday, June 13th. Deutsche Bank Aktiengesellschaft initiated coverage on Innio in a report on Monday, June 29th. They issued a “hold” rating and a $41.00 price objective on the stock. Finally, Bank of America initiated coverage on Innio in a research note on Monday, June 29th. They issued a “buy” rating and a $46.00 price objective on the stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Readystate Asset Management LP purchased a new stake in Innio during the second quarter worth approximately $3,975,000. Troluce Capital Advisors LLC acquired a new stake in shares of Innio in the second quarter worth $1,483,000. Value Aligned Research Advisors LLC purchased a new position in shares of Innio in the 2nd quarter valued at $53,605,000. Finally, Wellington Management Group LLP acquired a new position in shares of Innio during the 2nd quarter valued at $1,117,000.

Innio Stock Performance

INIO opened at $22.13 on Tuesday. The business has a 50 day moving average of $30.51. Innio has a 1 year low of $21.69 and a 1 year high of $42.95.

Innio (NASDAQ:INIO) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. The company had revenue of $937.70 million for the quarter. As a group, equities research analysts anticipate that Innio will post 0.37 EPS for the current year.

About Innio

INNIO is a provider of energy solutions, offering reciprocating gas engines, power generation systems, and related services for distributed power generation and gas compression applications. Its portfolio is designed to support customers in industries such as utilities, data centers, agriculture, wastewater, and oil and gas, where reliable on-site power and efficiency are important.

The company is best known for its Jenbacher and Waukesha brands, which are used in engines and power systems that can run on natural gas, biogas, and other gaseous fuels.