NN, Inc. (NNBR) Now Covered by Analysts at SunTrust Banks, Inc.

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.

TRADEMARK VIOLATION WARNING: This report was originally reported by BBNS and is owned by of BBNS. If you are accessing this report on another website, it was copied illegally and republished in violation of United States & international trademark & copyright legislation. The original version of this report can be viewed at https://baseballnewssource.com/markets/nn-inc-nnbr-coverage-initiated-by-analysts-at-suntrust-banks-inc-updated/1015310.html.

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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