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

NN, Inc. (NASDAQ:NNBR) has earned an average recommendation of “Hold” from the ten analysts that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $19.00.

A number of brokerages have issued reports on NNBR. BidaskClub cut shares of NN from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Investment Research raised shares of NN from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 15th. Finally, Robert W. Baird dropped their target price on shares of NN from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, March 18th.

Institutional investors have recently modified their holdings of the business. MetLife Investment Advisors LLC raised its stake in shares of NN by 56.7% in the 1st quarter. MetLife Investment Advisors LLC now owns 19,899 shares of the industrial products company’s stock valued at $149,000 after acquiring an additional 7,203 shares during the period. Metropolitan Life Insurance Co NY raised 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 acquiring an additional 1,950 shares during the period. Barington Capital Group L.P. purchased a new position in shares of NN in the 1st quarter valued at $2,964,000. Geode Capital Management LLC raised its stake in shares of NN by 11.6% in the 1st quarter. Geode Capital Management LLC now owns 514,090 shares of the industrial products company’s stock valued at $3,850,000 after acquiring an additional 53,583 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of NN by 11.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 247,820 shares of the industrial products company’s stock valued at $1,857,000 after acquiring an additional 25,080 shares during the period.

NASDAQ NNBR traded down $0.77 during trading hours on Friday, hitting $8.10. 10,609 shares of the stock were exchanged, compared to its average volume of 327,971. The stock has a market capitalization of $375.80 million, a P/E ratio of 6.92 and a beta of 1.42. NN has a 12-month low of $5.55 and a 12-month high of $23.60. The company has a quick ratio of 1.20, a current ratio of 1.90 and a debt-to-equity ratio of 2.26.

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 firm had revenue of $213.26 million during the quarter, compared to analysts’ expectations of $209.86 million. NN had a negative net margin of 34.01% and a positive return on equity of 7.79%. On average, equities research analysts expect that NN will post 1.18 earnings per share for the current fiscal year.

About NN

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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Analyst Recommendations for NN (NASDAQ:NNBR)

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