Zacks Investment Research upgraded shares of NN (NASDAQ:NNBR) from a hold rating to a buy rating in a research report released on Thursday. They currently have $28.00 price target on the industrial products company’s stock.
According to Zacks, “NN, Inc. is an independent manufacturer and supplier of high quality, precision steel balls and rollers to both domestic and international anti-friction bearing manufacturers. Precision steel balls and rollers are critical moving parts of anti-friction bearings used in a wide variety of automotive, industrial and other applications. NN also manufacturers a full line of precision injection molded components serving the bearing, automotive, instrumentation, fiber optic and consumer hardware markets. (PRESS RELEASE) “
A number of other equities research analysts also recently issued reports on NNBR. ValuEngine downgraded shares of NN from a strong-buy rating to a buy rating in a research report on Friday, December 1st. BidaskClub downgraded shares of NN from a hold rating to a sell rating in a research report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $32.50.
NN (NASDAQ:NNBR) last posted its quarterly 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). NN had a net margin of 4.87% and a return on equity of 11.94%. The company had revenue of $156.14 million for the quarter, compared to analyst estimates of $154.67 million. During the same quarter in the previous year, the business posted $0.21 earnings per share. NN’s revenue was up 10.2% on a year-over-year basis. sell-side analysts anticipate that NN will post 1.8 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Friday, February 16th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.28 annualized dividend and a dividend yield of 1.11%. NN’s dividend payout ratio is currently 20.90%.
Several institutional investors have recently modified their holdings of NNBR. Earnest Partners LLC acquired a new position in shares of NN during the 4th quarter worth approximately $135,000. Capital Fund Management S.A. acquired a new position in shares of NN during the 4th quarter worth approximately $215,000. Teacher Retirement System of Texas acquired a new position in shares of NN during the 4th quarter worth approximately $247,000. Voya Investment Management LLC raised its position in shares of NN by 20.0% during the 2nd 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 last quarter. Finally, American Century Companies Inc. acquired a new position in shares of NN during the 3rd quarter worth approximately $343,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.
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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