NN’s (NNBR) “Market Perform” Rating Reaffirmed at William Blair
NN, Inc. (NASDAQ:NNBR)‘s stock had its “market perform” rating reissued by William Blair in a report released on Thursday.
NNBR has been the subject of several other research reports. Zacks Investment Research lowered shares of NN from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 9th. BidaskClub lowered shares of NN from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. TheStreet raised shares of NN from a “c+” rating to a “b” rating in a report on Monday, June 5th. SunTrust Banks, Inc. assumed coverage on shares of NN in a report 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. Finally, ValuEngine raised shares of NN from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $30.25.
NN (NASDAQ NNBR) opened at 26.05 on Thursday. The company’s market capitalization is $715.46 million. The stock’s 50 day moving average price is $27.71 and its 200 day moving average price is $25.76. NN has a 12-month low of $13.43 and a 12-month high of $31.65.
NN (NASDAQ:NNBR) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.03. The company 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 14.58%. The company’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $0.46 earnings per share. On average, equities research analysts anticipate that NN will post $1.62 earnings per share for the current fiscal year.
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Hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of NN during the fourth quarter worth $5,388,000. Teachers Advisors LLC raised its stake 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 worth $899,000 after buying an additional 5,604 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in shares of NN during the fourth quarter worth $220,000. Bank of Montreal Can bought a new stake in shares of NN during the first quarter worth $162,000. Finally, First Manhattan Co. raised its stake in shares of NN by 0.5% in the first quarter. First Manhattan Co. now owns 209,600 shares of the industrial products company’s stock worth $3,825,000 after buying an additional 950 shares in the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.
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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