NN, Inc. (NNBR) Rating Reiterated by Stifel Nicolaus
Stifel Nicolaus reissued their hold rating on shares of NN, Inc. (NASDAQ:NNBR) in a research note released on Friday morning. They currently have a $29.00 target price on the industrial products company’s stock.
A number of other equities research analysts also recently weighed in on the company. BidaskClub downgraded NN from a sell rating to a strong sell rating in a report on Wednesday, August 2nd. Zacks Investment Research downgraded NN from a hold rating to a sell rating in a report on Wednesday, July 12th. William Blair reiterated a market perform rating on shares of NN in a report on Tuesday, July 11th. SunTrust Banks, Inc. began coverage on NN in a report on Thursday, June 15th. They issued a buy rating and a $37.00 price target for the company. They noted that the move was a valuation call. Finally, TheStreet upgraded NN from a c+ rating to a b rating in a report on Monday, June 5th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $30.25.
NN (NASDAQ NNBR) opened at 26.05 on Friday. NN has a 12 month low of $13.43 and a 12 month high of $31.65. The firm’s market cap is $710.96 million. The stock’s 50 day moving average is $28.31 and its 200 day moving average is $25.29.
NN (NASDAQ:NNBR) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. NN had a positive return on equity of 14.45% and a negative net margin of 0.77%. The business had revenue of $225.88 million during the quarter, compared to the consensus estimate of $221 million. During the same period in the previous year, the business earned $0.46 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities analysts forecast that NN will post $1.62 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in shares of NN by 0.7% in the first quarter. Wells Fargo & Company MN now owns 25,214 shares of the industrial products company’s stock worth $635,000 after buying an additional 176 shares during the period. US Bancorp DE raised its position in shares of NN by 4.5% in the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock worth $265,000 after buying an additional 457 shares during the period. Envestnet Asset Management Inc. raised its position in shares of NN by 10.3% in the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock worth $143,000 after buying an additional 530 shares during the period. First Manhattan Co. raised its position in shares of NN by 0.5% in the first quarter. First Manhattan Co. now owns 209,600 shares of the industrial products company’s stock worth $3,825,000 after buying an additional 950 shares during the period. Finally, American International Group Inc. raised its position in shares of NN by 7.1% in the first quarter. American International Group Inc. now owns 16,153 shares of the industrial products company’s stock worth $407,000 after buying an additional 1,064 shares during the period. Institutional investors own 96.40% 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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