NN, Inc. (NNBR) Earns Buy Rating from Analysts at SunTrust Banks, Inc.
SunTrust Banks, Inc. began coverage on shares of NN, Inc. (NASDAQ:NNBR) in a research report released on Thursday, Marketbeat Ratings reports. The firm issued a buy rating and a $37.00 price target on the industrial products company’s stock. The analysts noted that the move was a valuation call.
NNBR has been the subject of a number of other reports. Zacks Investment Research raised shares of NN from a sell rating to a buy rating and set a $25.00 target price for the company in a report on Tuesday, March 7th. TheStreet raised shares of NN from a c+ rating to a b rating in a report on Monday, June 5th. Finally, ValuEngine raised shares of NN from a hold rating to a buy rating in a report on Friday, June 2nd. Four analysts have rated the stock with a buy rating, NN presently has an average rating of Buy and a consensus target price of $30.67.
Shares of NN (NNBR) opened at 28.10 on Thursday. The company has a 50-day moving average price of $28.69 and a 200 day moving average price of $23.31. The firm has a market capitalization of $771.77 million, a PE ratio of 46.07 and a beta of 0.80. NN has a 12-month low of $12.77 and a 12-month high of $31.65.
NN (NASDAQ:NNBR) last issued its earnings results on Thursday, May 4th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.05. NN had a net margin of 2.00% and a return on equity of 14.04%. The company had revenue of $226.31 million during the quarter, compared to analysts’ expectations of $215.86 million. On average, equities analysts expect that NN will post $1.84 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 16th. Stockholders of record on Friday, June 2nd were given a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $0.28 annualized dividend and a dividend yield of 1.00%. NN’s dividend payout ratio is presently 45.90%.
Hedge funds have recently added to or reduced their stakes in the stock. Granahan Investment Management Inc. MA acquired a new stake in NN during the first quarter valued at approximately $3,248,000. Bank of America Corp DE raised its stake in NN by 52.6% in the first quarter. Bank of America Corp DE now owns 126,455 shares of the industrial products company’s stock valued at $3,187,000 after buying an additional 43,605 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in NN by 23.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 133,392 shares of the industrial products company’s stock valued at $3,362,000 after buying an additional 25,011 shares in the last quarter. Citadel Advisors LLC acquired a new stake in NN during the first quarter valued at approximately $650,000. Finally, UBS Group AG raised its stake in NN by 255.9% in the first quarter. UBS Group AG now owns 20,255 shares of the industrial products company’s stock valued at $511,000 after buying an additional 14,564 shares in the last quarter. Institutional investors and hedge funds own 95.85% of the company’s stock.
NN Company Profile
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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