NN, Inc. (NNBR) Stock Price Down 2%
NN, Inc. (NASDAQ:NNBR)’s share price was down 2% during mid-day trading on Thursday . The stock traded as low as $16.13 and last traded at $16.25, with a volume of 68,363 shares traded. The stock had previously closed at $16.58.
Several equities analysts have issued reports on NNBR shares. TheStreet upgraded NN from a “sell” rating to a “hold” rating in a research report on Wednesday, April 27th. William Blair restated a “market perform” rating and issued a $15.00 price target (down previously from $18.00) on shares of NN in a report on Friday, June 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. NN currently has an average rating of “Hold” and a consensus target price of $22.50.
The company’s market cap is $431.74 million. The company’s 50 day moving average price is $16.23 and its 200 day moving average price is $14.17.
NN (NASDAQ:NNBR) last issued its earnings results on Wednesday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. The business earned $212.20 million during the quarter, compared to the consensus estimate of $211.47 million. The business’s revenue was up 29.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 EPS. On average, equities analysts forecast that NN, Inc. will post $1.66 earnings per share for the current year.
In other NN news, Director Steven T. Warshaw sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $19.02, for a total value of $47,550.00. Following the transaction, the director now owns 46,100 shares of the company’s stock, valued at $876,822. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Several large investors have added to or reduced their stakes in NNBR. Russell Frank Co boosted its stake in NN by 4.3% in the fourth quarter. Russell Frank Co now owns 95,627 shares of the company’s stock worth $1,505,000 after buying an additional 3,946 shares during the period. New York State Common Retirement Fund boosted its stake 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 worth $2,341,000 after buying an additional 34,353 shares during the period. RidgeWorth Capital Management LLC boosted its stake in NN by 3.3% in the fourth quarter. RidgeWorth Capital Management LLC now owns 306,775 shares of the company’s stock worth $4,890,000 after buying an additional 9,775 shares during the period. Finally, Jennison Associates LLC boosted 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 worth $46,875,000 after buying an additional 106,796 shares during the period.
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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