NN Inc. (NNBR) Trading Down 2%
NN Inc. (NASDAQ:NNBR) fell 2% on Thursday . The stock traded as low as $16.13 and last traded at $16.25, with a volume of 68,363 shares changing hands. The stock had previously closed at $16.58.
Several research firms recently weighed in on NNBR. William Blair reissued a “market perform” rating and set a $14.00 price objective on shares of NN in a report on Monday, March 28th. TheStreet raised NN from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $22.50.
The company has a 50-day moving average of $16.17 and a 200 day moving average of $14.18. The company’s market cap is $429.59 million.
NN (NASDAQ:NNBR) last posted its earnings results on Wednesday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.01. The company had revenue of $212.20 million for the quarter, compared to analysts’ expectations of $211.47 million. The company’s revenue was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 EPS. On average, analysts anticipate that NN Inc. will post $1.66 earnings per share for the current fiscal year.
In other NN news, Director Steven T. Warshaw sold 2,500 shares of the stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $19.02, for a total transaction of $47,550.00. Following the sale, the director now owns 46,100 shares in the company, valued at $876,822. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Other large investors recently bought and sold shares of the company. Jennison Associates LLC increased its stake in NN by 3.8% in the fourth quarter. Jennison Associates LLC now owns 2,940,727 shares of the company’s stock valued at $46,875,000 after buying an additional 106,796 shares in the last quarter. RidgeWorth Capital Management LLC boosted its position in NN by 3.3% in the fourth quarter. RidgeWorth Capital Management LLC now owns 306,775 shares of the company’s stock valued at $4,890,000 after buying an additional 9,775 shares during the last quarter. New York State Common Retirement Fund boosted its position in NN by 30.5% in the fourth quarter. New York State Common Retirement Fund now owns 146,853 shares of the company’s stock valued at $2,341,000 after buying an additional 34,353 shares during the last quarter. Finally, Russell Frank Co boosted its position in NN by 4.3% in the fourth quarter. Russell Frank Co now owns 95,627 shares of the company’s stock valued at $1,505,000 after buying an additional 3,946 shares during the last quarter.
NN, Inc is a diversified industrial company. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group. Within its Precision Bearing Components Group, the Company manufactures and supplies high precision bearing components, consisting of balls, cylindrical rollers, tapered rollers, spherical rollers and metal retainers for bearing and constant velocity-joint manufacturers.
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