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.
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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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.
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