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

NN, Inc. (NASDAQ:NNBR) has been assigned a consensus rating of “Hold” from the ten research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $19.00.

A number of research analysts have issued reports on NNBR shares. Zacks Investment Research cut shares of NN from a “buy” rating to a “hold” rating in a report on Saturday, July 27th. BidaskClub raised shares of NN from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th. Finally, ValuEngine cut shares of NN from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th.

Shares of NASDAQ NNBR traded down $0.42 during midday trading on Wednesday, reaching $6.78. The company had a trading volume of 7,748 shares, compared to its average volume of 186,261. The company’s 50-day moving average is $8.67. The company has a market cap of $305.04 million, a PE ratio of 5.82 and a beta of 1.61. NN has a 1 year low of $5.55 and a 1 year high of $22.15. The company has a debt-to-equity ratio of 2.26, a quick ratio of 1.12 and a current ratio of 1.90.

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 Zacks’ consensus estimate of $0.16 by $0.04. The business 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%. Equities analysts expect that NN will post 1.16 EPS for the current year.

In other NN news, Director David Floyd acquired 9,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average price of $8.05 per share, for a total transaction of $72,450.00. Following the completion of the purchase, the director now directly owns 23,660 shares of the company’s stock, valued at $190,463. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP James Robert Atkinson acquired 3,000 shares of the business’s stock in a transaction dated Wednesday, June 19th. The stock was acquired at an average price of $8.65 per share, for a total transaction of $25,950.00. Following the purchase, the executive vice president now directly owns 21,550 shares of the company’s stock, valued at $186,407.50. The disclosure for this purchase can be found here. 2.48% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in NNBR. Private Management Group Inc. grew its position in NN by 0.5% during the first quarter. Private Management Group Inc. now owns 2,964,818 shares of the industrial products company’s stock valued at $22,206,000 after buying an additional 15,262 shares during the period. Penn Capital Management Co. Inc. grew its position in NN by 3.6% during the first quarter. Penn Capital Management Co. Inc. now owns 209,423 shares of the industrial products company’s stock valued at $1,569,000 after buying an additional 7,213 shares during the period. BlackRock Inc. grew its position in NN by 54.8% during the fourth quarter. BlackRock Inc. now owns 3,014,206 shares of the industrial products company’s stock valued at $20,224,000 after buying an additional 1,067,418 shares during the period. Smith Graham & Co. Investment Advisors LP grew its position in NN by 0.8% during the first quarter. Smith Graham & Co. Investment Advisors LP now owns 1,088,163 shares of the industrial products company’s stock valued at $8,150,000 after buying an additional 8,126 shares during the period. Finally, Two Sigma Advisers LP acquired a new stake in NN during the fourth quarter valued at $86,000. Hedge funds and other institutional investors own 99.38% of the company’s stock.

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.

See Also: Buy-Side Analysts

Analyst Recommendations for NN (NASDAQ:NNBR)

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