NN, Inc. (NNBR) Stock Rating Reaffirmed by KeyCorp
NN, Inc. (NASDAQ:NNBR)‘s stock had its “buy” rating reaffirmed by research analysts at KeyCorp in a research report issued to clients and investors on Sunday. They currently have a $36.00 target price on the industrial products company’s stock. KeyCorp’s price objective indicates a potential upside of 29.73% from the stock’s current price.
Several other equities research analysts have also recently weighed in on the stock. William Blair restated a “market perform” rating on shares of NN in a research report on Thursday, August 31st. Zacks Investment Research cut shares of NN from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Stifel Nicolaus restated a “hold” rating and issued a $29.00 price target on shares of NN in a research report on Friday, August 4th. BidaskClub cut shares of NN from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Finally, SunTrust Banks, Inc. assumed coverage on shares of NN in a research report on Thursday, June 15th. They issued a “buy” rating and a $37.00 price target on the stock. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.40.
NN (NASDAQ:NNBR) opened at 27.75 on Friday. The company’s market cap is $764.24 million. NN has a 12-month low of $13.43 and a 12-month high of $31.65. The company’s 50 day moving average is $26.01 and its 200 day moving average is $26.74.
NN (NASDAQ:NNBR) last announced its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. NN had a negative net margin of 10.08% and a negative return on equity of 27.00%. The company had revenue of $225.88 million for the quarter, compared to analysts’ expectations of $221.00 million. During the same quarter in the previous year, the business posted $0.46 earnings per share. NN’s quarterly revenue was up 5.4% on a year-over-year basis. Analysts forecast that NN will post $1.62 earnings per share for the current fiscal year.
In other NN news, Director Steven T. Warshaw sold 2,000 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $26.82, for a total transaction of $53,640.00. Following the transaction, the director now owns 58,732 shares in the company, valued at $1,575,192.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven T. Warshaw sold 5,000 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $27.08, for a total transaction of $135,400.00. Following the transaction, the director now owns 58,732 shares in the company, valued at approximately $1,590,462.56. The disclosure for this sale can be found here. Insiders sold 13,000 shares of company stock worth $353,320 in the last 90 days. 3.32% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the business. D.A. Davidson & CO. bought a new position in NN during the second quarter valued at $139,000. Envestnet Asset Management Inc. increased its position in NN by 10.3% during the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock valued at $143,000 after acquiring an additional 530 shares during the last quarter. Bank of Montreal Can bought a new position in NN during the first quarter valued at $162,000. US Bancorp DE increased its position in NN by 4.5% during the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock valued at $265,000 after acquiring an additional 457 shares during the last quarter. Finally, Tudor Investment Corp ET AL bought a new position in NN during the second quarter valued at $298,000. Institutional investors and hedge funds own 91.27% of the company’s stock.
NN, Inc is a diversified industrial company and a global manufacturer of high precision components and assemblies to a range of markets on a global basis. The Company’s operating segments include: the Precision Engineered Products Group and the Autocam Precision Components Group. Precision Engineered Products Group combines materials science capability with engineering and production solutions to design and manufacture a range of high-precision metal and plastic components, assemblies and finished devices for the medical, electrical, automotive and aerospace end markets.
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