SunTrust Banks, Inc. initiated coverage on shares of NN, Inc. (NASDAQ:NNBR) in a research report sent to investors on Thursday, June 15th, MarketBeat Ratings reports. The brokerage issued a buy rating and a $37.00 target price on the industrial products company’s stock. The analysts noted that the move was a valuation call.
A number of other research analysts have also recently commented on NNBR. Zacks Investment Research upgraded NN from a sell rating to a buy rating and set a $25.00 price objective on the stock in a report on Tuesday, March 7th. ValuEngine upgraded NN from a hold rating to a buy rating in a research note on Friday, June 2nd. Finally, TheStreet upgraded NN from a c+ rating to a b rating in a research note on Monday, June 5th. Four research analysts have rated the stock with a buy rating, NN presently has a consensus rating of Buy and an average target price of $30.67.
NN (NNBR) traded down 0.36% on Thursday, hitting $27.45. 74,960 shares of the stock were exchanged. The company has a 50-day moving average price of $28.69 and a 200-day moving average price of $23.31. The firm has a market cap of $753.91 million, a PE ratio of 45.00 and a beta of 0.80. NN has a 52-week low of $12.77 and a 52-week high of $31.65.
NN (NASDAQ:NNBR) last released its quarterly earnings data on Thursday, May 4th. The industrial products company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. NN had a return on equity of 14.04% and a net margin of 2.00%. The firm had revenue of $226.31 million for the quarter, compared to analysts’ expectations of $215.86 million. On average, equities research analysts anticipate that NN will post $1.84 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Friday, June 2nd were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Wednesday, May 31st. NN’s payout ratio is 45.90%.
Several large investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its stake in shares of NN by 10.3% in the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock valued at $143,000 after buying an additional 530 shares during the period. Bank of Montreal Can acquired a new stake in shares of NN during the first quarter valued at $162,000. US Bancorp DE increased its stake in shares of NN by 4.5% in the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock valued at $265,000 after buying an additional 457 shares during the period. Highbridge Capital Management LLC acquired a new stake in shares of NN during the fourth quarter valued at $220,000. Finally, American International Group Inc. increased its stake in shares of NN by 7.1% in the first quarter. American International Group Inc. now owns 16,153 shares of the industrial products company’s stock valued at $407,000 after buying an additional 1,064 shares during the period. Institutional investors and hedge funds own 95.85% of the company’s stock.
NN Company Profile
NN, Inc is a diversified industrial company and a manufacturer of high precision bearing components, industrial plastic products and precision metal components to a range of markets on a global basis. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group.
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