NN, Inc. (NNBR) Rating Reiterated by KeyCorp
NN, Inc. (NASDAQ:NNBR)‘s stock had its “buy” rating reaffirmed by analysts at KeyCorp in a report released on Friday. They presently have a $36.00 target price on the industrial products company’s stock. KeyCorp’s price objective would indicate a potential upside of 17.26% from the company’s previous close.
A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of NN from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Stifel Nicolaus restated a “hold” rating and issued a $29.00 target price on shares of NN in a research note on Friday, August 4th. William Blair restated a “market perform” rating on shares of NN in a research note on Thursday, August 31st. Finally, BidaskClub lowered shares of NN from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $33.00.
Shares of NN (NNBR) opened at 30.70 on Friday. The firm’s market capitalization is $845.48 million. NN has a 1-year low of $13.43 and a 1-year high of $31.65. The firm has a 50-day moving average price of $28.35 and a 200-day moving average price of $27.69.
NN (NASDAQ:NNBR) last issued its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $221.00 million. During the same quarter in the previous year, the business posted $0.46 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, analysts forecast that NN will post $1.60 EPS for the current fiscal year.
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In other news, insider Thomas C. Jr. Burwell sold 6,000 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $27.38, for a total value of $164,280.00. Following the sale, the insider now owns 37,881 shares in the company, valued at approximately $1,037,181.78. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven T. Warshaw sold 5,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $27.08, for a total transaction of $135,400.00. Following the completion of the sale, the director now owns 58,732 shares in the company, valued at approximately $1,590,462.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,000 shares of company stock worth $436,660. Company insiders own 2.80% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC raised its stake in NN by 27.0% during the second quarter. Lord Abbett & CO. LLC now owns 302,898 shares of the industrial products company’s stock worth $8,314,000 after acquiring an additional 64,477 shares during the period. USA Financial Portformulas Corp acquired a new stake in NN during the second quarter worth about $1,188,000. Dynamic Technology Lab Private Ltd acquired a new stake in NN during the second quarter worth about $710,000. The Manufacturers Life Insurance Company raised its stake in NN by 0.6% during the second quarter. The Manufacturers Life Insurance Company now owns 21,090 shares of the industrial products company’s stock worth $579,000 after acquiring an additional 126 shares during the period. Finally, Daruma Capital Management LLC raised its stake in NN by 144.6% during the second quarter. Daruma Capital Management LLC now owns 455,904 shares of the industrial products company’s stock worth $12,515,000 after acquiring an additional 269,507 shares during the period. Hedge funds and other institutional investors own 91.27% of the company’s stock.
NN Company Profile
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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