NN (NASDAQ:NNBR) had its target price dropped by investment analysts at Stifel Nicolaus from $23.00 to $18.00 in a note issued to investors on Thursday, Stock Target Advisor reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ price target points to a potential upside of 42.07% from the company’s previous close.
NNBR has been the subject of several other reports. ValuEngine lowered NN from a “sell” rating to a “strong sell” rating in a report on Monday, August 13th. BidaskClub lowered NN from a “hold” rating to a “sell” rating in a report on Wednesday, June 20th. William Blair reaffirmed a “market perform” rating on shares of NN in a report on Friday, September 28th. Finally, Zacks Investment Research downgraded NN from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. NN presently has a consensus rating of “Hold” and a consensus target price of $24.40.
NASDAQ:NNBR opened at $12.67 on Thursday. The company has a market cap of $432.58 million, a PE ratio of 8.48 and a beta of 1.10. NN has a 52 week low of $12.55 and a 52 week high of $32.90. The company has a debt-to-equity ratio of 2.35, a current ratio of 2.62 and a quick ratio of 1.78.
NN (NASDAQ:NNBR) last posted its earnings results on Thursday, August 9th. The industrial products company reported $0.38 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.38. The company had revenue of $196.30 million during the quarter, compared to analyst estimates of $197.21 million. NN had a return on equity of 7.64% and a net margin of 3.05%. The business’s revenue was up 24.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 earnings per share. Equities research analysts anticipate that NN will post 1.47 EPS for the current year.
In other NN news, CEO Richard D. Holder acquired 3,100 shares of NN stock in a transaction dated Friday, September 14th. The stock was acquired at an average cost of $16.04 per share, for a total transaction of $49,724.00. Following the completion of the transaction, the chief executive officer now owns 173,401 shares in the company, valued at approximately $2,781,352.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Matthew S. Heiter acquired 2,150 shares of NN stock in a transaction dated Monday, September 17th. The shares were acquired at an average price of $15.99 per share, with a total value of $34,378.50. Following the completion of the transaction, the vice president now owns 18,184 shares of the company’s stock, valued at approximately $290,762.16. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 6,450 shares of company stock valued at $103,387. Insiders own 2.74% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of NNBR. Smith Graham & Co. Investment Advisors LP acquired a new position in shares of NN during the second quarter worth approximately $8,024,000. Wells Fargo & Company MN lifted its position in NN by 1,725.7% in the first quarter. Wells Fargo & Company MN now owns 391,329 shares of the industrial products company’s stock worth $9,391,000 after purchasing an additional 369,895 shares during the period. Royce & Associates LP lifted its position in NN by 15.4% in the second quarter. Royce & Associates LP now owns 1,306,149 shares of the industrial products company’s stock worth $24,686,000 after purchasing an additional 174,756 shares during the period. Wilen Investment Management CORP. acquired a new stake in NN in the second quarter worth approximately $3,150,000. Finally, BlackRock Inc. lifted its position in NN by 8.2% in the second quarter. BlackRock Inc. now owns 1,962,418 shares of the industrial products company’s stock worth $37,087,000 after purchasing an additional 148,478 shares during the period. Institutional investors and hedge funds own 95.82% of the company’s stock.
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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