Several other research analysts also recently weighed in on the company. JPMorgan Chase & Co. started coverage on NN in a research note on Monday, January 7th. They issued an overweight rating and a $15.00 price target for the company. Robert W. Baird dropped their price target on NN from $11.00 to $9.00 and set a neutral rating for the company in a research note on Monday, March 18th. Finally, Zacks Investment Research downgraded NN from a hold rating to a sell rating in a research note on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $20.17.
NNBR stock opened at $9.85 on Friday. NN has a 1-year low of $5.55 and a 1-year high of $23.60. The company has a quick ratio of 1.20, a current ratio of 2.05 and a debt-to-equity ratio of 1.94. The company has a market capitalization of $394.44 million, a price-to-earnings ratio of 8.42 and a beta of 1.34.
NN (NASDAQ:NNBR) last posted its quarterly earnings results on Wednesday, March 13th. The industrial products company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.05). NN had a positive return on equity of 7.48% and a negative net margin of 34.32%. The business had revenue of $199.48 million during the quarter, compared to the consensus estimate of $203.05 million. On average, sell-side analysts expect that NN will post 1.15 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Jennison Associates LLC boosted its position in shares of NN by 2.0% during the 4th quarter. Jennison Associates LLC now owns 3,527,411 shares of the industrial products company’s stock valued at $23,669,000 after acquiring an additional 70,114 shares during the last quarter. BlackRock Inc. lifted its position in NN by 54.8% in the fourth quarter. BlackRock Inc. now owns 3,014,206 shares of the industrial products company’s stock worth $20,224,000 after buying an additional 1,067,418 shares during the last quarter. Private Management Group Inc. lifted its position in NN by 194.2% in the fourth quarter. Private Management Group Inc. now owns 2,949,556 shares of the industrial products company’s stock worth $19,792,000 after buying an additional 1,946,913 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in NN by 11.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,593,354 shares of the industrial products company’s stock worth $17,401,000 after buying an additional 261,457 shares during the last quarter. Finally, Royce & Associates LP lifted its position in NN by 42.1% in the fourth quarter. Royce & Associates LP now owns 1,990,495 shares of the industrial products company’s stock worth $13,356,000 after buying an additional 589,871 shares during the last quarter.
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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