NN, Inc. (NASDAQ:NNBR) has earned a consensus recommendation of “Hold” from the six brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $33.50.
A number of equities research analysts have issued reports on the company. William Blair restated a “market perform” rating on shares of NN in a research note on Tuesday, July 11th. ValuEngine upgraded NN from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded NN from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. TheStreet upgraded NN from a “c+” rating to a “b” rating in a research note on Monday, June 5th. Finally, SunTrust Banks, Inc. assumed coverage on NN in a research note on Thursday, June 15th. They set a “buy” rating and a $37.00 price objective for the company. They noted that the move was a valuation call.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new position in NN during the fourth quarter worth approximately $1,194,000. State Street Corp boosted its position in NN by 5.2% in the fourth quarter. State Street Corp now owns 534,187 shares of the industrial products company’s stock worth $10,174,000 after buying an additional 26,261 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in NN by 8.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,145,398 shares of the industrial products company’s stock worth $40,870,000 after buying an additional 175,151 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in NN by 6.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,698 shares of the industrial products company’s stock worth $356,000 after buying an additional 1,127 shares in the last quarter. Finally, Norges Bank acquired a new position in NN during the fourth quarter worth approximately $5,388,000. 96.04% of the stock is currently owned by institutional investors.
Shares of NN (NASDAQ:NNBR) traded down 1.22% during trading on Tuesday, reaching $28.45. 142,003 shares of the company’s stock were exchanged. NN has a 12 month low of $13.43 and a 12 month high of $31.65. The firm has a market cap of $781.38 million, a price-to-earnings ratio of 46.64 and a beta of 0.63. The stock has a 50-day moving average price of $28.43 and a 200 day moving average price of $24.89.
NN (NASDAQ:NNBR) last released its quarterly 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. The business had revenue of $226.31 million during the quarter, compared to the consensus estimate of $215.86 million. NN had a return on equity of 14.04% and a net margin of 2.00%. On average, analysts forecast that NN will post $1.61 EPS for the current year.
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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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