NN, Inc. (NNBR) Receives “Market Perform” Rating from William Blair
NN, Inc. (NASDAQ:NNBR)‘s stock had its “market perform” rating restated by analysts at William Blair in a report released on Thursday.
A number of other equities research analysts also recently issued reports on NNBR. Stifel Nicolaus reissued a “hold” rating and set a $29.00 price objective on shares of NN in a research report on Friday, August 4th. BidaskClub downgraded shares of NN from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of NN from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 9th. TheStreet raised shares of NN from a “c+” rating to a “b” rating in a research report on Monday, June 5th. Finally, ValuEngine raised shares of NN from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $30.25.
NN (NASDAQ NNBR) traded down 0.20% during trading on Thursday, hitting $25.20. The stock had a trading volume of 23,138 shares. NN has a 52-week low of $13.43 and a 52-week high of $31.65. The company’s market cap is $694.01 million. The company has a 50-day moving average price of $27.32 and a 200-day moving average price of $26.03.
NN (NASDAQ:NNBR) last issued its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. NN had a negative net margin of 0.77% and a positive return on equity of 14.58%. The firm had revenue of $225.88 million during the quarter, compared to the consensus estimate of $221 million. During the same quarter in the previous year, the firm posted $0.46 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts forecast that NN will post $1.62 EPS for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the company. Nuveen Asset Management LLC increased 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. Algert Global LLC purchased a new position in shares of NN during the second quarter valued at $2,173,000. Envestnet Asset Management Inc. increased 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 increased 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. Finally, Teachers Advisors LLC increased 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. 91.12% of the stock is owned by institutional investors.
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.
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