NN, Inc. (NASDAQ:NNBR) Receives Average Recommendation of “Hold” from Brokerages

NN, Inc. (NASDAQ:NNBR) has been given a consensus rating of “Hold” by the seven brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $14.67.

A number of equities research analysts have commented on NNBR shares. ValuEngine upgraded NN from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 4th. Zacks Investment Research upgraded NN from a “sell” rating to a “hold” rating in a report on Friday, October 11th. Finally, BidaskClub upgraded NN from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th.

NASDAQ NNBR traded down $0.28 during trading on Monday, reaching $7.28. 335,000 shares of the company’s stock were exchanged, compared to its average volume of 315,353. NN has a fifty-two week low of $5.55 and a fifty-two week high of $12.77. The firm has a market capitalization of $314.79 million, a PE ratio of 6.22 and a beta of 1.69. The company has a current ratio of 2.13, a quick ratio of 1.27 and a debt-to-equity ratio of 2.42. The company’s fifty day simple moving average is $7.11 and its 200-day simple moving average is $7.98.

NN (NASDAQ:NNBR) last announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported $0.25 EPS for the quarter, missing the Zacks’ 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 business had revenue of $221.70 million for the quarter, compared to analyst estimates of $217.95 million. During the same quarter in the previous year, the business posted $0.38 earnings per share. The company’s revenue was up 12.9% compared to the same quarter last year. Equities analysts forecast that NN will post 1.06 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were issued a dividend of $0.07 per share. The ex-dividend date was Friday, September 6th. This represents a $0.28 annualized dividend and a dividend yield of 3.85%. NN’s dividend payout ratio is 23.93%.

Several hedge funds have recently modified their holdings of NNBR. MetLife Investment Advisors LLC increased its holdings 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 increased its holdings 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. Nisa Investment Advisors LLC acquired a new position in NN in the 2nd quarter valued at $68,000. Janney Capital Management LLC increased its stake in NN by 22.8% in the 2nd quarter. Janney Capital Management LLC now owns 26,449 shares of the industrial products company’s stock valued at $258,000 after buying an additional 4,913 shares during the period. Finally, Aperio Group LLC increased its stake in NN by 40.3% in the 2nd quarter. Aperio Group LLC now owns 32,329 shares of the industrial products company’s stock valued at $316,000 after buying an additional 9,281 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

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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