NN, Inc. (NNBR) Earns “Market Perform” Rating from William Blair
Several other analysts have also weighed in on the company. SunTrust Banks, Inc. started coverage on NN in a research note on Thursday, June 15th. They issued a buy rating and a $37.00 price objective on the stock. They noted that the move was a valuation call. Zacks Investment Research lowered NN from a hold rating to a sell rating in a research note on Wednesday, July 12th. BidaskClub lowered NN from a hold rating to a sell rating in a research note on Thursday, July 27th. ValuEngine raised NN from a hold rating to a buy rating in a research note on Friday, June 2nd. Finally, TheStreet raised NN from a c+ rating to a b rating in a research note on Monday, June 5th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $30.25.
NN (NASDAQ NNBR) opened at 25.45 on Thursday. NN has a one year low of $13.43 and a one year high of $31.65. The firm’s 50-day moving average price is $27.59 and its 200 day moving average price is $25.81. The firm’s market cap is $700.89 million.
NN (NASDAQ:NNBR) last released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. The business had revenue of $225.88 million for the quarter, compared to analyst estimates of $221 million. NN had a positive return on equity of 14.58% and a negative net margin of 0.77%. NN’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $0.46 earnings per share. On average, equities research analysts forecast that NN will post $1.62 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.07 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.28 annualized dividend and a yield of 1.10%. NN’s dividend payout ratio is presently -116.67%.
Institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in NN during the fourth quarter valued at approximately $5,388,000. Nuveen Asset Management LLC increased its position in NN by 31.2% in the first quarter. Nuveen Asset Management LLC now owns 1,176,352 shares of the industrial products company’s stock valued at $29,644,000 after buying an additional 279,795 shares in the last quarter. Daruma Capital Management LLC increased its position in NN by 144.6% in the second quarter. Daruma Capital Management LLC now owns 455,904 shares of the industrial products company’s stock valued at $12,515,000 after buying an additional 269,507 shares in the last quarter. Dimensional Fund Advisors LP increased its position in NN by 6.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,288,095 shares of the industrial products company’s stock valued at $57,659,000 after buying an additional 142,697 shares in the last quarter. Finally, Primecap Management Co. CA increased its position in NN by 8.7% in the first quarter. Primecap Management Co. CA now owns 1,705,000 shares of the industrial products company’s stock valued at $42,966,000 after buying an additional 136,500 shares in the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.
NN, Inc is a diversified industrial company and a manufacturer of high precision bearing components, industrial plastic products and precision metal components to a range of markets on a global basis. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group.
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