Brokerages Set NN, Inc. (NASDAQ:NNBR) Target Price at $19.00

Shares of NN, Inc. (NASDAQ:NNBR) have received an average recommendation of “Hold” from the ten brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $19.00.

Several equities research analysts have issued reports on the company. BidaskClub downgraded NN from a “hold” rating to a “sell” rating in a report on Tuesday. ValuEngine downgraded NN from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Finally, Zacks Investment Research downgraded NN from a “buy” rating to a “hold” rating in a report on Saturday, July 27th.

In other news, EVP James Robert Atkinson acquired 3,000 shares of NN stock in a transaction dated Wednesday, June 19th. The stock was bought at an average cost of $8.65 per share, with a total value of $25,950.00. Following the completion of the transaction, the executive vice president now directly owns 21,550 shares of the company’s stock, valued at $186,407.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Floyd acquired 9,000 shares of NN stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average cost of $8.05 per share, with a total value of $72,450.00. Following the completion of the transaction, the director now directly owns 23,660 shares of the company’s stock, valued at $190,463. The disclosure for this purchase can be found here. 2.48% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Metropolitan Life Insurance Co NY boosted its position in shares of NN by 18.2% during the first quarter. Metropolitan Life Insurance Co NY now owns 12,637 shares of the industrial products company’s stock worth $94,000 after buying an additional 1,950 shares during the period. Citigroup Inc. boosted its position in NN by 35.0% during the fourth quarter. Citigroup Inc. now owns 9,947 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 2,577 shares during the last quarter. Legal & General Group Plc boosted its position in NN by 69.0% during the fourth quarter. Legal & General Group Plc now owns 7,303 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 2,981 shares during the last quarter. Janney Capital Management LLC boosted its position in NN by 22.8% during the second quarter. Janney Capital Management LLC now owns 26,449 shares of the industrial products company’s stock valued at $258,000 after purchasing an additional 4,913 shares during the last quarter. Finally, Sound View Wealth Advisors LLC boosted its position in NN by 4.6% during the first quarter. Sound View Wealth Advisors LLC now owns 113,184 shares of the industrial products company’s stock valued at $848,000 after purchasing an additional 5,000 shares during the last quarter. 99.38% of the stock is owned by institutional investors.

Shares of NN stock traded down $0.28 during trading hours on Wednesday, hitting $6.45. The company’s stock had a trading volume of 198,544 shares, compared to its average volume of 333,297. NN has a 12 month low of $5.55 and a 12 month high of $22.10. The stock has a 50 day simple moving average of $8.59. The company has a market capitalization of $305.04 million, a P/E ratio of 5.51 and a beta of 1.61. The company has a quick ratio of 1.12, a current ratio of 1.90 and a debt-to-equity ratio of 2.26.

NN (NASDAQ:NNBR) last announced its quarterly earnings results on Thursday, May 9th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.04. NN had a positive return on equity of 7.79% and a negative net margin of 34.01%. The company had revenue of $213.26 million during the quarter, compared to the consensus estimate of $209.86 million. As a group, research analysts anticipate that NN will post 1.16 earnings per share for the current fiscal year.

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.

See Also: What is Cost of Capital?

Analyst Recommendations for NN (NASDAQ:NNBR)

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


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