KeyCorp reiterated their buy rating on shares of NN, Inc. (NASDAQ:NNBR) in a research note issued to investors on Friday morning. KeyCorp currently has a $36.00 price target on the industrial products company’s stock.
Other analysts also recently issued reports about the company. Zacks Investment Research downgraded NN from a strong-buy rating to a hold rating in a report on Wednesday, July 5th. Stifel Nicolaus restated a hold rating and issued a $29.00 price objective on shares of NN in a report on Friday, August 4th. William Blair restated a market perform rating on shares of NN in a report on Thursday, August 31st. Finally, BidaskClub downgraded NN from a hold rating to a sell rating in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $33.00.
NN (NASDAQ:NNBR) traded down 0.32% during midday trading on Friday, hitting $30.70. The stock had a trading volume of 59,202 shares. The company has a 50-day moving average of $28.35 and a 200-day moving average of $27.69. NN has a 1-year low of $13.43 and a 1-year high of $31.65. The stock’s market cap is $845.48 million.
NN (NASDAQ:NNBR) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. The business had revenue of $225.88 million during the quarter, compared to the consensus estimate of $221.00 million. NN had a positive return on equity of 14.58% and a negative net margin of 0.77%. NN’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 earnings per share. Equities research analysts forecast that NN will post $1.60 EPS for the current year.
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In other NN news, insider Thomas C. Jr. Burwell sold 6,000 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $27.38, for a total transaction of $164,280.00. Following the completion of the sale, the insider now directly owns 37,881 shares in the company, valued at approximately $1,037,181.78. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven T. Warshaw sold 2,000 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $26.82, for a total value of $53,640.00. Following the sale, the director now owns 58,732 shares of the company’s stock, valued at $1,575,192.24. The disclosure for this sale can be found here. Insiders sold 16,000 shares of company stock valued at $436,660 over the last 90 days. 2.80% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of NNBR. D.A. Davidson & CO. acquired a new stake in NN during the 2nd quarter worth about $139,000. Envestnet Asset Management Inc. grew its holdings in NN by 10.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock worth $143,000 after acquiring an additional 530 shares during the period. Tudor Investment Corp ET AL acquired a new stake in NN during the 2nd quarter worth about $298,000. Virtu KCG Holdings LLC acquired a new stake in NN during the 2nd quarter worth about $323,000. Finally, Voya Investment Management LLC grew its holdings in NN by 20.0% during the 2nd quarter. Voya Investment Management LLC now owns 12,222 shares of the industrial products company’s stock worth $335,000 after acquiring an additional 2,037 shares during the period. Hedge funds and other institutional investors own 91.27% of the company’s stock.
NN, Inc is a diversified industrial company and a global manufacturer of high precision components and assemblies to a range of markets on a global basis. The Company’s operating segments include: the Precision Engineered Products Group and the Autocam Precision Components Group. Precision Engineered Products Group combines materials science capability with engineering and production solutions to design and manufacture a range of high-precision metal and plastic components, assemblies and finished devices for the medical, electrical, automotive and aerospace end markets.
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