Zacks Investment Research upgraded shares of NN (NASDAQ:NNBR) from a hold rating to a buy rating in a research note issued to investors on Wednesday, Zacks.com reports. Zacks Investment Research currently has $9.50 price objective on the industrial products company’s stock.
According to Zacks, “NN, Inc. is an independent manufacturer and supplier of high quality, precision steel balls and rollers to both domestic and international anti-friction bearing manufacturers. Precision steel balls and rollers are critical moving parts of anti-friction bearings used in a wide variety of automotive, industrial and other applications. NN also manufacturers a full line of precision injection molded components serving the bearing, automotive, instrumentation, fiber optic and consumer hardware markets. (PRESS RELEASE) “
Other analysts have also issued reports about the stock. BidaskClub lowered shares of Xperi from a sell rating to a strong sell rating in a research report on Wednesday, June 19th. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. NN has a consensus rating of Hold and an average price target of $17.42.
NASDAQ:NNBR opened at $8.03 on Wednesday. NN has a 1 year low of $5.55 and a 1 year high of $22.15. The firm has a fifty day moving average price of $8.60. The company has a quick ratio of 1.12, a current ratio of 1.90 and a debt-to-equity ratio of 2.26. The firm has a market cap of $332.16 million, a price-to-earnings ratio of 7.13 and a beta of 1.56.
NN (NASDAQ:NNBR) last posted 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. The company had revenue of $213.26 million for the quarter, compared to analyst estimates of $209.86 million. NN had a negative net margin of 34.01% and a positive return on equity of 7.79%. Equities analysts anticipate that NN will post 1.16 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 21st were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend was Thursday, June 20th. NN’s payout ratio is 23.93%.
In other NN news, Director David Floyd acquired 9,000 shares of NN stock in a transaction dated Tuesday, May 28th. The stock was bought at an average cost of $8.05 per share, with a total value of $72,450.00. Following the acquisition, the director now owns 23,660 shares of the company’s stock, valued at $190,463. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James Robert Atkinson acquired 3,000 shares of NN stock in a transaction dated Wednesday, June 19th. The shares were acquired at an average cost of $8.65 per share, with a total value of $25,950.00. Following the completion of the acquisition, the executive vice president now directly owns 21,550 shares in the company, valued at approximately $186,407.50. The disclosure for this purchase can be found here. 2.48% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its holdings in NN by 69.0% during the 4th 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. Quantamental Technologies LLC bought a new position in NN during the 1st quarter valued at about $55,000. BNP Paribas Arbitrage SA lifted its holdings in NN by 343.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,763 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 6,785 shares during the last quarter. Citigroup Inc. lifted its holdings in NN by 35.0% during the 4th 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. Finally, Nisa Investment Advisors LLC bought a new position in NN during the 2nd quarter valued at about $68,000. 99.36% of the stock is owned by institutional investors.
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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