BidaskClub Upgrades NN (NNBR) to Hold

BidaskClub upgraded shares of NN (NASDAQ:NNBR) from a sell rating to a hold rating in a research note released on Wednesday morning.

Other analysts have also recently issued reports about the company. ValuEngine cut NN from a sell rating to a strong sell rating in a report on Monday. Zacks Investment Research cut NN from a buy rating to a hold rating in a report on Friday, March 9th. Finally, Stifel Nicolaus reduced their price target on NN from $29.00 to $28.00 and set a hold rating for the company in a report on Monday, March 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $31.75.

NNBR opened at $21.95 on Wednesday. The company has a quick ratio of 3.02, a current ratio of 3.77 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $563.01 million, a PE ratio of 14.16 and a beta of 0.85. NN has a 12 month low of $19.65 and a 12 month high of $32.90.

NN (NASDAQ:NNBR) last posted its quarterly earnings results on Thursday, May 10th. The industrial products company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). The business had revenue of $169.15 million during the quarter, compared to analyst estimates of $167.81 million. NN had a net margin of 3.35% and a return on equity of 9.02%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 earnings per share. research analysts forecast that NN will post 1.65 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, June 1st will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, May 31st. NN’s payout ratio is currently 18.06%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Driehaus Capital Management LLC increased its stake in NN by 2.1% in the 4th quarter. Driehaus Capital Management LLC now owns 152,339 shares of the industrial products company’s stock valued at $4,205,000 after purchasing an additional 3,132 shares in the last quarter. Victory Capital Management Inc. increased its stake in NN by 8.4% in the 4th quarter. Victory Capital Management Inc. now owns 45,350 shares of the industrial products company’s stock valued at $1,252,000 after purchasing an additional 3,522 shares in the last quarter. Geode Capital Management LLC increased its stake in NN by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 238,818 shares of the industrial products company’s stock valued at $6,591,000 after purchasing an additional 3,622 shares in the last quarter. Allianz Asset Management GmbH increased its stake in NN by 2.8% in the 4th quarter. Allianz Asset Management GmbH now owns 170,343 shares of the industrial products company’s stock valued at $4,701,000 after purchasing an additional 4,600 shares in the last quarter. Finally, Earnest Partners LLC purchased a new position in NN in the 4th quarter valued at approximately $135,000. 97.39% of the stock is owned by hedge funds and other institutional investors.

NN Company Profile

NN, Inc, a diversified industrial company, designs and manufactures high-precision components and assemblies in the United States, Europe, Asia, Canada, Mexico, South America, and internationally. It operates through Autocam Precision Components Group and Precision Engineered Products Group segments.

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