NN (NNBR) Stock Rating Upgraded by BidaskClub

NN (NASDAQ:NNBR) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Wednesday.

NNBR has been the subject of a number of other reports. KeyCorp reissued a “buy” rating and issued a $36.00 price target on shares of NN in a report on Friday, October 20th. Zacks Investment Research raised NN from a “sell” rating to a “hold” rating in a report on Thursday, November 30th. ValuEngine downgraded NN from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Finally, William Blair reissued a “market perform” rating on shares of NN in a report on Thursday, August 31st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $34.00.

NN (NASDAQ NNBR) traded up $0.40 during trading on Wednesday, hitting $27.65. The company had a trading volume of 39,200 shares, compared to its average volume of 155,734. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.16 and a quick ratio of 2.72. NN has a 12-month low of $17.70 and a 12-month high of $32.90. The firm has a market capitalization of $751.38, a P/E ratio of 16.82 and a beta of 0.64.

NN (NASDAQ:NNBR) last released its earnings results on Wednesday, November 1st. The industrial products company reported $0.29 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.29. NN had a positive return on equity of 12.72% and a negative net margin of 1.76%. The firm had revenue of $148.16 million during the quarter, compared to the consensus estimate of $150.50 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year. analysts expect that NN will post 1.58 EPS for the current fiscal year.

In other news, insider Thomas C. Jr. Burwell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $32.00, for a total value of $64,000.00. Following the completion of the sale, the insider now directly owns 35,381 shares in the company, valued at $1,132,192. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Floyd acquired 1,865 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was acquired at an average price of $26.98 per share, with a total value of $50,317.70. The disclosure for this purchase can be found here. Insiders own 2.80% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Allianz Asset Management GmbH increased its position in shares of NN by 5.0% in the third quarter. Allianz Asset Management GmbH now owns 165,743 shares of the industrial products company’s stock valued at $4,807,000 after buying an additional 7,958 shares in the last quarter. Stifel Financial Corp increased its position in shares of NN by 45.0% in the third quarter. Stifel Financial Corp now owns 14,500 shares of the industrial products company’s stock valued at $421,000 after buying an additional 4,500 shares in the last quarter. Elk Creek Partners LLC increased its position in shares of 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 in the last quarter. Dimensional Fund Advisors LP increased its position in shares of 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 in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of NN by 42.6% in the third quarter. Wells Fargo & Company MN now owns 35,850 shares of the industrial products company’s stock valued at $1,040,000 after buying an additional 10,718 shares in the last quarter. Institutional investors and hedge funds own 93.59% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “NN (NNBR) Stock Rating Upgraded by BidaskClub” was originally reported by Community Financial News and is owned by of Community Financial News. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The legal version of this piece of content can be accessed at https://www.com-unik.info/2017/12/22/nn-nnbr-stock-rating-upgraded-by-bidaskclub.html.

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.

Receive News & Ratings for NN Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NN and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit