NN (NASDAQ:NNBR) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
Several other equities research analysts have also recently commented on the company. Zacks Investment Research raised NN from a “sell” rating to a “hold” rating in a report on Thursday, February 21st. JPMorgan Chase & Co. initiated coverage on NN in a report on Monday, January 7th. They issued an “overweight” rating and a $15.00 price target for the company. Finally, TheStreet cut NN from a “c-” rating to a “d+” rating in a report on Monday, December 3rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. NN has an average rating of “Hold” and an average price target of $21.50.
Shares of NN stock opened at $7.93 on Wednesday. NN has a 12 month low of $5.55 and a 12 month high of $25.55. The company has a market cap of $384.41 million, a price-to-earnings ratio of 5.12 and a beta of 1.38. The company has a quick ratio of 1.53, a current ratio of 2.36 and a debt-to-equity ratio of 1.32.
NN (NASDAQ:NNBR) last announced its earnings results on Wednesday, March 13th. The industrial products company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.05). NN had a net margin of 1.38% and a return on equity of 7.02%. As a group, equities research analysts anticipate that NN will post 1.27 EPS for the current fiscal year.
In other NN news, insider Thomas C. Jr. Burwell acquired 7,000 shares of the stock in a transaction that occurred on Tuesday, December 18th. The stock was bought at an average cost of $6.13 per share, for a total transaction of $42,910.00. Following the completion of the transaction, the insider now owns 46,329 shares of the company’s stock, valued at approximately $283,996.77. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carey A. Smith acquired 5,000 shares of the stock in a transaction that occurred on Monday, December 24th. The stock was acquired at an average price of $5.80 per share, with a total value of $29,000.00. Following the completion of the transaction, the director now directly owns 11,331 shares of the company’s stock, valued at approximately $65,719.80. The disclosure for this purchase can be found here. 2.74% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of NNBR. Primecap Management Co. CA grew its position in NN by 63.9% in the third quarter. Primecap Management Co. CA now owns 5,782,600 shares of the industrial products company’s stock worth $90,209,000 after acquiring an additional 2,254,700 shares during the period. Private Management Group Inc. grew its position in NN by 194.2% in the fourth quarter. Private Management Group Inc. now owns 2,949,556 shares of the industrial products company’s stock worth $19,792,000 after acquiring an additional 1,946,913 shares during the period. Jennison Associates LLC grew its position in NN by 57.1% in the third quarter. Jennison Associates LLC now owns 3,457,297 shares of the industrial products company’s stock worth $53,934,000 after acquiring an additional 1,256,116 shares during the period. BlackRock Inc. grew its position in NN by 54.8% in the fourth quarter. BlackRock Inc. now owns 3,014,206 shares of the industrial products company’s stock worth $20,224,000 after acquiring an additional 1,067,418 shares during the period. Finally, RE Advisers Corp grew its position in NN by 77.8% in the third quarter. RE Advisers Corp now owns 2,397,250 shares of the industrial products company’s stock worth $37,397,000 after acquiring an additional 1,049,050 shares during the period. Institutional investors own 99.78% of the company’s stock.
NN, Inc, a diversified industrial company, designs and manufactures high-precision components and assemblies in the United States, Europe, Asia, Canada, Mexico, South America, and internationally. It operates through Autocam Precision Components Group and Precision Engineered Products Group segments.
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