NN (NASDAQ:NNBR) Upgraded at BidaskClub

BidaskClub upgraded shares of NN (NASDAQ:NNBR) from a strong sell rating to a sell rating in a research note released on Tuesday, BidAskClub reports.

Other equities analysts have also issued reports about the company. ValuEngine upgraded NN from a strong sell rating to a sell rating in a research report on Wednesday, September 4th. Zacks Investment Research lowered NN from a hold rating to a sell rating in a research report on Thursday, August 15th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. NN has an average rating of Hold and an average target price of $14.35.

NNBR traded up $0.38 on Tuesday, hitting $8.47. 3,324 shares of the company were exchanged, compared to its average volume of 221,614. The firm has a fifty day simple moving average of $6.85 and a two-hundred day simple moving average of $8.27. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.27 and a current ratio of 2.13. NN has a 12 month low of $5.55 and a 12 month high of $16.65. The stock has a market capitalization of $330.04 million, a PE ratio of 7.11 and a beta of 1.68.

NN (NASDAQ:NNBR) last posted its quarterly earnings results on Thursday, August 8th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02). NN had a positive return on equity of 8.04% and a negative net margin of 30.86%. The company had revenue of $221.70 million for the quarter, compared to the consensus estimate of $217.95 million. During the same quarter in the previous year, the business earned $0.38 earnings per share. NN’s revenue was up 12.9% compared to the same quarter last year. On average, equities analysts expect that NN will post 1.07 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.31%. NN’s dividend payout ratio is currently 23.93%.

In other NN news, EVP James Robert Atkinson acquired 3,000 shares of the business’s stock in a transaction dated Wednesday, June 19th. The shares were purchased at an average cost of $8.65 per share, for a total transaction of $25,950.00. Following the transaction, the executive vice president now owns 21,550 shares in the company, valued at $186,407.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 2.48% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantamental Technologies LLC purchased a new position in shares of NN in the 1st quarter valued at approximately $55,000. Bank of Montreal Can lifted its stake in shares of NN by 150.4% in the 2nd quarter. Bank of Montreal Can now owns 5,939 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 3,567 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of NN by 343.0% in 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 period. Nisa Investment Advisors LLC purchased a new position in shares of NN in the 2nd quarter valued at approximately $68,000. Finally, Metropolitan Life Insurance Co NY lifted its stake in shares of NN by 18.2% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 12,637 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 1,950 shares during the period. Institutional investors own 93.74% 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.

Featured Article: What is meant by a buy rating?

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.