ValuEngine Downgrades NN (NNBR) to Strong Sell

ValuEngine lowered shares of NN (NASDAQ:NNBR) from a sell rating to a strong sell rating in a research note released on Wednesday, September 12th.

Other research analysts have also issued reports about the company. SunTrust Banks reiterated a buy rating and set a $33.00 price target on shares of NN in a report on Sunday, August 12th. Stifel Nicolaus restated a hold rating and set a $23.00 price objective (down from $26.00) on shares of NN in a research report on Monday, August 13th. BidaskClub upgraded NN from a sell rating to a hold rating in a research report on Wednesday, May 16th. Zacks Investment Research upgraded NN from a sell rating to a hold rating and set a $26.00 price target on the stock in a research report on Tuesday, May 15th. Finally, KeyCorp lowered their price target on NN from $36.00 to $28.00 and set an overweight rating on the stock in a research report on Monday, July 16th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $27.50.

NNBR traded down $0.57 during trading on Wednesday, reaching $15.07. The company had a trading volume of 364,176 shares, compared to its average volume of 208,512. The company has a current ratio of 2.62, a quick ratio of 1.78 and a debt-to-equity ratio of 2.35. NN has a 12-month low of $15.01 and a 12-month high of $32.90. The stock has a market capitalization of $432.58 million, a P/E ratio of 9.72 and a beta of 1.10.

NN (NASDAQ:NNBR) last released its earnings results on Thursday, August 9th. The industrial products company reported $0.38 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.38. The company had revenue of $196.30 million for the quarter, compared to analysts’ expectations of $197.21 million. NN had a return on equity of 7.64% and a net margin of 3.05%. The business’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 EPS. On average, research analysts predict that NN will post 1.47 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Monday, September 3rd were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Thursday, August 30th. NN’s dividend payout ratio (DPR) is presently 18.06%.

In related news, VP Matthew S. Heiter bought 2,150 shares of the business’s stock in a transaction on Monday, September 17th. The shares were purchased at an average price of $15.99 per share, with a total value of $34,378.50. Following the completion of the purchase, the vice president now owns 18,184 shares of the company’s stock, valued at approximately $290,762.16. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Richard D. Holder bought 3,100 shares of the business’s stock in a transaction on Friday, September 14th. The stock was bought at an average cost of $16.04 per share, for a total transaction of $49,724.00. Following the purchase, the chief executive officer now directly owns 173,401 shares of the company’s stock, valued at approximately $2,781,352.04. The disclosure for this purchase can be found here. Insiders have bought 6,450 shares of company stock worth $103,387 in the last ninety days. 2.74% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the business. Jennison Associates LLC increased its holdings in shares of NN by 0.9% in the second quarter. Jennison Associates LLC now owns 2,201,181 shares of the industrial products company’s stock worth $41,602,000 after acquiring an additional 19,728 shares in the last quarter. BlackRock Inc. increased its holdings in shares of NN by 8.2% in the second quarter. BlackRock Inc. now owns 1,962,418 shares of the industrial products company’s stock worth $37,087,000 after acquiring an additional 148,478 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of NN by 17.3% in the first quarter. Nuveen Asset Management LLC now owns 1,420,015 shares of the industrial products company’s stock worth $34,080,000 after acquiring an additional 209,232 shares in the last quarter. Royce & Associates LP increased its holdings in shares of NN by 15.4% in the second quarter. Royce & Associates LP now owns 1,306,149 shares of the industrial products company’s stock worth $24,686,000 after acquiring an additional 174,756 shares in the last quarter. Finally, Private Management Group Inc. increased its holdings in shares of NN by 4.5% in the second quarter. Private Management Group Inc. now owns 740,300 shares of the industrial products company’s stock worth $13,992,000 after acquiring an additional 32,161 shares in the last quarter. Institutional investors own 95.82% 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.

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