Junto Capital Management LP acquired a new stake in Innio N.V. (NASDAQ:INIO – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 662,266 shares of the company’s stock, valued at approximately $26,193,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Dragoneer Investment Group LLC bought a new stake in shares of Innio during the second quarter worth $112,718,000. Value Aligned Research Advisors LLC acquired a new position in shares of Innio during the second quarter worth $53,605,000. Squarepoint Ops LLC bought a new position in shares of Innio in the 2nd quarter valued at $13,842,000. Readystate Asset Management LP acquired a new stake in shares of Innio during the 2nd quarter valued at $3,975,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Innio during the 2nd quarter valued at $2,990,000.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. initiated coverage on Innio in a report on Monday, June 29th. They issued an “overweight” rating and a $44.00 target price for the company. Morgan Stanley began coverage on Innio in a research note on Monday, June 29th. They set an “overweight” rating and a $47.00 price target on the stock. Royal Bank Of Canada raised Innio from a “sector perform” rating to an “outperform” rating and lowered their price objective for the company from $39.00 to $35.00 in a research note on Thursday, July 30th. BNP Paribas Exane initiated coverage on shares of Innio in a report on Monday, June 29th. They issued an “outperform” rating and a $48.00 price objective for the company. Finally, UBS Group initiated coverage on shares of Innio in a research report on Monday, June 29th. They set a “buy” rating and a $47.00 target price on the stock. One equities 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.90.
Innio Price Performance
NASDAQ INIO opened at $20.78 on Thursday. Innio N.V. has a twelve month low of $19.04 and a twelve month high of $42.95. The firm has a fifty day moving average of $26.54.
Innio (NASDAQ:INIO – Get Free Report) last announced its 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. On average, sell-side analysts anticipate that Innio N.V. will post 0.37 EPS for the current fiscal year.
Innio Company Profile
INNIO Group is an energy technology company that develops and provides power generation and gas compression solutions. Its principal product lines are marketed under the Jenbacher and Waukesha brands, which serve distributed power generation, combined heat and power, and industrial and commercial energy applications.
The company manufactures gas engines and related systems designed to operate on fuels including natural gas, biogas, landfill gas and hydrogen blends. Its offerings also include microgrid and energy-management solutions, aftermarket services, parts and maintenance, and digital monitoring through its myPlant platform.
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