NN (NNBR) Downgraded to Buy at ValuEngine

NN (NASDAQ:NNBR) was downgraded by stock analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

A number of other research analysts have also issued reports on NNBR. Zacks Investment Research upgraded shares of NN from a “sell” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus restated a “hold” rating and issued a $29.00 target price on shares of NN in a report on Friday, August 4th. KeyCorp restated a “buy” rating and issued a $36.00 target price on shares of NN in a report on Sunday, September 17th. Finally, William Blair restated a “market perform” rating on shares of NN in a report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $33.00.

Shares of NN (NASDAQ NNBR) traded down $0.70 during midday trading on Friday, reaching $27.25. 198,293 shares of the company were exchanged, compared to its average volume of 97,413. The firm has a market cap of $770.68, a PE ratio of 17.25 and a beta of 0.64. NN has a 12-month low of $16.75 and a 12-month high of $32.90. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.72 and a current ratio of 3.16.

NN (NASDAQ:NNBR) last issued its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.29 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.29. The firm had revenue of $148.16 million for the quarter, compared to analysts’ expectations of $150.50 million. NN had a negative net margin of 1.76% and a positive return on equity of 12.72%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.38 EPS. analysts predict that NN will post 1.58 earnings per share for the current year.

In other news, Director Steven T. Warshaw sold 2,000 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $26.82, for a total transaction of $53,640.00. Following the transaction, the director now directly owns 58,732 shares in the company, valued at approximately $1,575,192.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven T. Warshaw sold 3,000 shares of the stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $27.78, for a total transaction of $83,340.00. Following the transaction, the director now owns 57,732 shares in the company, valued at $1,603,794.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,000 shares of company stock worth $500,660. Insiders own 2.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in NN by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,319,809 shares of the industrial products company’s stock valued at $67,276,000 after buying an additional 12,964 shares during the period. Jennison Associates LLC raised its holdings in NN by 8.8% in the third quarter. Jennison Associates LLC now owns 2,222,746 shares of the industrial products company’s stock valued at $64,460,000 after buying an additional 179,578 shares during the period. Royal Bank of Canada raised its holdings in NN by 3.2% in the second quarter. Royal Bank of Canada now owns 2,211,167 shares of the industrial products company’s stock valued at $60,698,000 after buying an additional 69,123 shares during the period. Vanguard Group Inc. raised its holdings in NN by 5.0% in the second quarter. Vanguard Group Inc. now owns 1,135,524 shares of the industrial products company’s stock valued at $31,171,000 after buying an additional 53,688 shares during the period. Finally, Elk Creek Partners LLC raised its holdings in NN by 48.6% in the third quarter. Elk Creek Partners LLC now owns 507,602 shares of the industrial products company’s stock valued at $14,720,000 after buying an additional 166,092 shares during the period. Hedge funds and other institutional investors own 93.87% of the company’s stock.

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About NN

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for NN (NASDAQ:NNBR)

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