NN (NASDAQ:NNBR) Price Target Lowered to $28.00 at Stifel Nicolaus

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NN (NASDAQ:NNBR) had its price target reduced by Stifel Nicolaus from $29.00 to $28.00 in a research note issued to investors on Monday, March 12th. The firm presently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 24.44% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. BidaskClub cut shares of NN from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Zacks Investment Research raised shares of NN from a “sell” rating to a “hold” rating in a research report on Thursday, November 30th. Finally, ValuEngine raised shares of NN from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. NN currently has an average rating of “Hold” and an average target price of $32.25.

Shares of NN stock traded down $0.55 during trading on Monday, reaching $22.50. The company’s stock had a trading volume of 263,815 shares, compared to its average volume of 130,558. The stock has a market cap of $652.26, a PE ratio of 14.52 and a beta of 0.80. NN has a 52 week low of $21.40 and a 52 week high of $32.90. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.72 and a current ratio of 3.16.

NN (NASDAQ:NNBR) last announced its earnings results on Thursday, March 8th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.01). The business had revenue of $156.14 million during the quarter, compared to the consensus estimate of $154.67 million. NN had a net margin of 4.87% and a return on equity of 11.94%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 EPS. equities research analysts predict that NN will post 1.53 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its position in NN by 0.6% during the second quarter. The Manufacturers Life Insurance Company now owns 21,090 shares of the industrial products company’s stock worth $579,000 after purchasing an additional 126 shares during the period. Voya Investment Management LLC lifted its position in NN by 20.0% during the second quarter. Voya Investment Management LLC now owns 12,222 shares of the industrial products company’s stock worth $335,000 after purchasing an additional 2,037 shares during the period. Driehaus Capital Management LLC lifted its position in NN by 2.1% during the fourth quarter. Driehaus Capital Management LLC now owns 152,339 shares of the industrial products company’s stock worth $4,205,000 after purchasing an additional 3,132 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of NN by 8.4% in the fourth quarter. Victory Capital Management Inc. now owns 45,350 shares of the industrial products company’s stock worth $1,252,000 after acquiring an additional 3,522 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of NN by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 238,818 shares of the industrial products company’s stock worth $6,591,000 after acquiring an additional 3,622 shares during the last quarter. 95.81% of the stock is owned by institutional investors and hedge funds.

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NN Company Profile

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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