NN Inc. (NASDAQ:NNBR) Receives $15.50 Average PT from Analysts
NN Inc. (NASDAQ:NNBR) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are covering the stock. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $18.00.
Several brokerages have recently weighed in on NNBR. William Blair reiterated a “market perform” rating and set a $15.00 price objective (down from $18.00) on shares of NN in a report on Friday, June 10th. Zacks Investment Research lowered shares of NN from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in NN by 21.0% in the first quarter. Wellington Management Group LLP now owns 1,557,773 shares of the company’s stock valued at $21,310,000 after buying an additional 270,391 shares during the last quarter. First Manhattan Co. acquired a new position in NN during the second quarter valued at approximately $2,937,000. Private Management Group Inc. raised its position in NN by 16.7% in the second quarter. Private Management Group Inc. now owns 1,162,556 shares of the company’s stock valued at $16,264,000 after buying an additional 166,472 shares during the last quarter. Royal Bank of Canada raised its position in NN by 7.8% in the first quarter. Royal Bank of Canada now owns 2,263,002 shares of the company’s stock valued at $30,957,000 after buying an additional 164,535 shares during the last quarter. Finally, Skyline Asset Management LP raised its position in NN by 26.2% in the first quarter. Skyline Asset Management LP now owns 791,600 shares of the company’s stock valued at $10,829,000 after buying an additional 164,500 shares during the last quarter. Hedge funds and other institutional investors own 98.44% of the company’s stock.
NN (NASDAQ:NNBR) opened at 19.50 on Monday. The firm’s 50-day moving average is $18.11 and its 200 day moving average is $16.22. The firm’s market cap is $528.94 million. NN has a 12-month low of $10.34 and a 12-month high of $20.39.
NN (NASDAQ:NNBR) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.46 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. The business had revenue of $214.30 million for the quarter, compared to analyst estimates of $223.14 million. NN had a negative net margin of 2.85% and a positive return on equity of 10.72%. The company’s revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 EPS. Equities research analysts predict that NN will post $1.61 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were issued a $0.07 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.28 annualized dividend and a yield of 1.44%. NN’s payout ratio is -34.15%.
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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