Shares of NN, Inc. (NASDAQ:NNBR) have earned a consensus rating of “Hold” from the eight analysts that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $32.00.
NNBR has been the subject of several analyst reports. TheStreet raised shares of NN from a “c+” rating to a “b” rating in a research report on Monday, June 5th. ValuEngine raised shares of NN from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. SunTrust Banks, Inc. initiated coverage on shares of NN in a research report on Thursday, June 15th. They set a “buy” rating and a $37.00 price target for the company. They noted that the move was a valuation call. Zacks Investment Research lowered shares of NN from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $29.00 price target on shares of NN in a research report on Friday.
Shares of NN (NASDAQ:NNBR) traded up 0.77% on Friday, reaching $26.15. 214,469 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $28.31 and a 200-day moving average price of $25.29. The company’s market cap is $713.69 million. NN has a 12-month low of $13.43 and a 12-month high of $31.65.
NN (NASDAQ:NNBR) last issued its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.03. NN had a negative net margin of 0.77% and a positive return on equity of 14.45%. The company had revenue of $225.88 million for the quarter, compared to analysts’ expectations of $221 million. During the same period in the prior year, the business earned $0.46 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts anticipate that NN will post $1.62 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its stake in NN by 10.3% in the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock valued at $143,000 after buying an additional 530 shares during the last quarter. Bank of Montreal Can purchased a new stake in NN during the first quarter valued at approximately $162,000. Highbridge Capital Management LLC purchased a new stake in NN during the fourth quarter valued at approximately $220,000. US Bancorp DE raised its stake in NN by 4.5% in the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock valued at $265,000 after buying an additional 457 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in NN by 6.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,698 shares of the industrial products company’s stock valued at $356,000 after buying an additional 1,127 shares during the last quarter. 96.40% of the stock is owned by institutional investors and hedge funds.
About NN
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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