NN, Inc. (NNBR) Rating Reiterated by KeyCorp

NN, Inc. (NASDAQ:NNBR)‘s stock had its “buy” rating reiterated by KeyCorp in a research report issued to clients and investors on Friday. They presently have a $36.00 price objective on the industrial products company’s stock. KeyCorp’s price objective would indicate a potential upside of 17.26% from the stock’s current price.

A number of other equities analysts have also weighed in on NNBR. Stifel Nicolaus reaffirmed a “hold” rating and set a $29.00 target price on shares of NN in a research report on Friday, August 4th. BidaskClub lowered NN from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. William Blair reaffirmed a “market perform” rating on shares of NN in a research report on Tuesday, July 11th. Finally, Zacks Investment Research lowered NN from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $33.00.

NN (NASDAQ:NNBR) opened at 30.70 on Friday. The company’s market capitalization is $845.48 million. The stock’s 50 day moving average is $28.35 and its 200 day moving average is $27.69. NN has a 52 week low of $13.43 and a 52 week high of $31.65.

NN (NASDAQ:NNBR) last issued its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. NN had a positive return on equity of 14.58% and a negative net margin of 0.77%. The company had revenue of $225.88 million for the quarter, compared to analyst estimates of $221.00 million. During the same period in the prior year, the firm earned $0.46 earnings per share. NN’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts predict that NN will post $1.60 EPS for the current fiscal year.

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In related news, Director Steven T. Warshaw sold 2,000 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $26.82, for a total transaction of $53,640.00. Following the completion of the sale, the director now owns 58,732 shares in the company, valued at $1,575,192.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven T. Warshaw sold 5,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $27.08, for a total value of $135,400.00. Following the sale, the director now owns 58,732 shares of the company’s stock, valued at approximately $1,590,462.56. The disclosure for this sale can be found here. Insiders have sold 16,000 shares of company stock valued at $436,660 in the last quarter. 2.80% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in NNBR. Wells Fargo & Company MN grew its holdings in NN by 0.7% during 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 in the last quarter. Bank of New York Mellon Corp grew its holdings in NN by 7.6% during the first quarter. Bank of New York Mellon Corp now owns 187,462 shares of the industrial products company’s stock worth $4,724,000 after buying an additional 13,276 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings 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 worth $143,000 after buying an additional 530 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in NN by 2.8% during the first quarter. JPMorgan Chase & Co. now owns 62,024 shares of the industrial products company’s stock worth $1,563,000 after buying an additional 1,679 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in NN by 39.6% during the first quarter. Prudential Financial Inc. now owns 28,905 shares of the industrial products company’s stock worth $728,000 after buying an additional 8,200 shares in the last quarter. Institutional investors and hedge funds own 91.27% of the company’s stock.

About NN

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.

Analyst Recommendations for NN (NASDAQ:NNBR)

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