Stifel Nicolaus Reaffirms Hold Rating for NN, Inc. (NNBR)
NN, Inc. (NASDAQ:NNBR)‘s stock had its “hold” rating reiterated by analysts at Stifel Nicolaus in a research report issued on Friday. They currently have a $29.00 price objective on the industrial products company’s stock. Stifel Nicolaus’ price target points to a potential upside of 11.32% from the company’s current price.
A number of other research firms have also weighed in on NNBR. Zacks Investment Research lowered shares of NN from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 5th. William Blair reaffirmed a “market perform” rating on shares of NN in a report on Tuesday, July 11th. BidaskClub lowered shares of NN from a “sell” rating to a “strong sell” rating in a report on Wednesday. ValuEngine raised shares of NN from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, SunTrust Banks, Inc. started coverage on shares of NN in a report on Thursday, June 15th. They set a “buy” rating and a $37.00 price target for the company. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. NN currently has an average rating of “Hold” and an average target price of $30.25.
Shares of NN (NASDAQ NNBR) traded down 0.76% during trading on Friday, hitting $26.05. 264,853 shares of the company were exchanged. The company’s 50-day moving average price is $28.31 and its 200 day moving average price is $25.29. NN has a 12 month low of $13.43 and a 12 month high of $31.65. The stock’s market cap is $710.96 million.
NN (NASDAQ:NNBR) last released 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. The business had revenue of $225.88 million during the quarter, compared to analyst estimates of $221 million. NN had a negative net margin of 0.77% and a positive return on equity of 14.45%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the business earned $0.46 EPS. On average, equities analysts predict that NN will post $1.62 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Nuveen Asset Management LLC raised its position in shares of NN by 31.2% in the first quarter. Nuveen Asset Management LLC now owns 1,176,352 shares of the industrial products company’s stock valued at $29,644,000 after buying an additional 279,795 shares in the last quarter. 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 valued at $143,000 after buying an additional 530 shares in the last quarter. 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 valued at $265,000 after buying an additional 457 shares in the last quarter. Teachers Advisors LLC raised its position in shares of NN by 13.5% in the fourth quarter. Teachers Advisors LLC now owns 47,211 shares of the industrial products company’s stock valued at $899,000 after buying an additional 5,604 shares in the last quarter. Finally, Poplar Forest Capital LLC bought a new position in shares of NN during the first quarter valued at $880,000. 96.26% of the stock is owned by institutional investors.
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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