NN (NASDAQ:NNBR)‘s stock had its “market perform” rating reissued by research analysts at William Blair in a research note issued on Wednesday, September 19th.
Several other brokerages have also recently commented on NNBR. ValuEngine raised NN from a “strong sell” rating to a “sell” rating in a report on Thursday, September 6th. SunTrust Banks reissued a “buy” rating and set a $33.00 target price on shares of NN in a report on Sunday, August 12th. KeyCorp dropped their target price on NN from $36.00 to $28.00 and set an “overweight” rating on the stock in a report on Monday, July 16th. BidaskClub cut NN from a “sell” rating to a “strong sell” rating in a report on Thursday, August 16th. Finally, Zacks Investment Research cut NN from a “strong-buy” rating to a “sell” rating in a report on Wednesday, July 11th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $24.40.
NASDAQ:NNBR traded down $0.69 during midday trading on Wednesday, hitting $12.67. 671,025 shares of the stock were exchanged, compared to its average volume of 219,770. NN has a one year low of $12.55 and a one year high of $32.90. The stock has a market cap of $432.58 million, a price-to-earnings ratio of 8.17 and a beta of 1.10. The company has a debt-to-equity ratio of 2.35, a current ratio of 2.62 and a quick ratio of 1.78.
NN (NASDAQ:NNBR) last announced its earnings results on Thursday, August 9th. The industrial products company reported $0.38 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. NN had a return on equity of 7.64% and a net margin of 3.05%. The firm had revenue of $196.30 million for the quarter, compared to analysts’ expectations of $197.21 million. During the same quarter in the previous year, the company earned $0.51 earnings per share. The firm’s quarterly revenue was up 24.3% compared to the same quarter last year. On average, sell-side analysts expect that NN will post 1.47 EPS for the current year.
In related news, CEO Richard D. Holder purchased 3,100 shares of the company’s stock in a transaction on Friday, September 14th. The shares were bought at an average price of $16.04 per share, with a total value of $49,724.00. Following the completion of the acquisition, the chief executive officer now owns 173,401 shares of the company’s stock, valued at $2,781,352.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Matthew S. Heiter purchased 2,150 shares of the company’s stock in a transaction on Monday, September 17th. The stock was bought at an average cost of $15.99 per share, for a total transaction of $34,378.50. Following the acquisition, the vice president now directly owns 18,184 shares of the company’s stock, valued at approximately $290,762.16. The disclosure for this purchase can be found here. Insiders acquired 6,450 shares of company stock worth $103,387 in the last ninety days. 2.74% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its position in NN by 8.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 153,308 shares of the industrial products company’s stock worth $2,898,000 after purchasing an additional 12,119 shares in the last quarter. Putnam Investments LLC grew its position in NN by 319.5% during the 2nd quarter. Putnam Investments LLC now owns 131,955 shares of the industrial products company’s stock worth $2,494,000 after purchasing an additional 100,500 shares in the last quarter. Millennium Management LLC purchased a new position in NN during the 2nd quarter worth approximately $1,274,000. Citadel Advisors LLC purchased a new position in NN during the 2nd quarter worth approximately $2,696,000. Finally, Private Management Group Inc. grew its position in NN by 4.5% during the 2nd quarter. Private Management Group Inc. now owns 740,300 shares of the industrial products company’s stock worth $13,992,000 after purchasing an additional 32,161 shares in the last quarter. Hedge funds and other institutional investors own 95.82% of the company’s stock.
NN Company Profile
NN, Inc, a diversified industrial company, designs and manufactures high-precision components and assemblies in the United States, Europe, Asia, Canada, Mexico, South America, and internationally. It operates through Autocam Precision Components Group and Precision Engineered Products Group segments.
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