Zacks Investment Research lowered shares of NN, Inc. (NASDAQ:NNBR) from a hold rating to a strong sell rating in a research report sent to investors on Wednesday, August 9th.
According to Zacks, “NN, Inc. is an independent manufacturer and supplier of high quality, precision steel balls and rollers to both domestic and international anti-friction bearing manufacturers. Precision steel balls and rollers are critical moving parts of anti-friction bearings used in a wide variety of automotive, industrial and other applications. NN also manufacturers a full line of precision injection molded components serving the bearing, automotive, instrumentation, fiber optic and consumer hardware markets. (PRESS RELEASE) “
Other analysts have also recently issued research reports about the company. TheStreet upgraded NN from a c+ rating to a b rating in a research report on Monday, June 5th. BidaskClub cut NN from a sell rating to a strong sell rating in a research report on Wednesday, August 2nd. William Blair reiterated a market perform rating on shares of NN in a research report on Tuesday, July 11th. SunTrust Banks, Inc. began coverage on NN in a research 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, Stifel Nicolaus restated a hold rating and issued a $29.00 price target on shares of NN in a report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $30.25.
NN (NASDAQ NNBR) traded down 1.55% during midday trading on Wednesday, hitting $25.45. 166,023 shares of the stock were exchanged. The stock’s market cap is $700.89 million. The firm has a 50-day moving average price of $27.59 and a 200-day moving average price of $25.81. NN has a one year low of $13.43 and a one year high of $31.65.
NN (NASDAQ:NNBR) last posted 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. The firm had revenue of $225.88 million during the quarter, compared to analysts’ expectations of $221 million. NN had a positive return on equity of 14.58% and a negative net margin of 0.77%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 EPS. On average, equities research analysts anticipate that NN will post $1.62 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Wednesday, August 30th. NN’s dividend payout ratio (DPR) is -116.67%.
A number of hedge funds have recently bought and sold shares of NNBR. The Manufacturers Life Insurance Company boosted its stake in NN by 0.6% in the second quarter. The Manufacturers Life Insurance Company now owns 21,090 shares of the industrial products company’s stock valued at $579,000 after buying an additional 126 shares during the period. Wells Fargo & Company MN boosted its stake in NN by 0.7% in the first quarter. Wells Fargo & Company MN now owns 25,214 shares of the industrial products company’s stock valued at $635,000 after buying an additional 176 shares during the period. US Bancorp DE boosted its stake in 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 during the period. Envestnet Asset Management Inc. boosted its stake in 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 during the period. Finally, Teachers Advisors LLC boosted its stake in NN by 1.5% in the second quarter. Teachers Advisors LLC now owns 49,164 shares of the industrial products company’s stock valued at $1,350,000 after buying an additional 706 shares during the period. Institutional investors own 92.15% of the company’s stock.
NN Company Profile
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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