NN, Inc. (NNBR) Receives $32.00 Consensus Target Price from Analysts
Shares of NN, Inc. (NASDAQ:NNBR) have been given a consensus rating of “Hold” by the eight ratings firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $32.00.
A number of equities analysts have recently commented on the stock. TheStreet raised shares of NN from a “c+” rating to a “b” rating in a report on Monday, June 5th. William Blair reaffirmed a “market perform” rating on shares of NN in a report on Thursday. BidaskClub cut shares of NN from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research cut shares of NN from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, SunTrust Banks, Inc. assumed coverage on shares of NN in a report on Thursday, June 15th. They issued a “buy” rating and a $37.00 target price on the stock. They noted that the move was a valuation call.
NN (NASDAQ:NNBR) traded up 2.55% during mid-day trading on Wednesday, hitting $26.15. 115,671 shares of the stock traded hands. The stock’s market cap is $720.17 million. NN has a 12-month low of $13.43 and a 12-month high of $31.65. The company has a 50 day moving average of $26.82 and a 200-day moving average of $26.23.
NN (NASDAQ:NNBR) last announced its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $225.88 million for the quarter, compared to analysts’ expectations of $221 million. NN had a negative net margin of 0.77% and a positive return on equity of 14.58%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 EPS. Equities research analysts forecast that NN will post $1.62 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.07%. NN’s payout ratio is -116.67%.
Several institutional investors have recently made changes to their positions in NNBR. The Manufacturers Life Insurance Company raised its position 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 worth $579,000 after buying an additional 126 shares during the period. Wells Fargo & Company MN raised its position 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 worth $635,000 after buying an additional 176 shares during the period. US Bancorp DE raised its position in NN by 4.5% in the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock worth $265,000 after buying an additional 457 shares during the period. Envestnet Asset Management Inc. raised its position 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 worth $143,000 after buying an additional 530 shares during the period. Finally, Teachers Advisors LLC raised its position in NN by 1.5% in the second quarter. Teachers Advisors LLC now owns 49,164 shares of the industrial products company’s stock worth $1,350,000 after buying an additional 706 shares during the period. 91.12% of the stock is currently owned by institutional investors and hedge funds.
NN Company Profile
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.
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