NN (NNBR) Rating Reiterated by Stifel Nicolaus

Stifel Nicolaus reissued their hold rating on shares of NN (NASDAQ:NNBR) in a research note issued to investors on Monday, Marketbeat Ratings reports. Stifel Nicolaus currently has a $23.00 target price on the industrial products company’s stock, down from their prior target price of $26.00.

Several other analysts have also recently commented on the company. SunTrust Banks restated a buy rating and issued a $33.00 target price on shares of NN in a research report on Sunday, August 12th. Zacks Investment Research upgraded NN from a sell rating to a hold rating in a research report on Tuesday, August 7th. ValuEngine upgraded NN from a strong sell rating to a sell rating in a research report on Tuesday, July 31st. BidaskClub upgraded NN from a strong sell rating to a sell rating in a research report on Tuesday, July 31st. Finally, KeyCorp lowered their target price on NN from $36.00 to $28.00 and set an overweight rating on the stock in a research report on Monday, July 16th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. NN has a consensus rating of Hold and a consensus price target of $27.50.

NNBR opened at $18.65 on Monday. NN has a 12 month low of $18.05 and a 12 month high of $32.90. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.78 and a current ratio of 2.62. The company has a market capitalization of $546.27 million, a P/E ratio of 12.03 and a beta of 1.02.

NN (NASDAQ:NNBR) last posted its earnings results on Thursday, August 9th. The industrial products company reported $0.38 EPS for the quarter, meeting the consensus estimate of $0.38. NN had a return on equity of 7.64% and a net margin of 3.05%. The firm had revenue of $196.30 million for the quarter, compared to analysts’ expectations of $197.21 million. During the same period last year, the firm earned $0.51 EPS. The firm’s revenue was up 24.3% compared to the same quarter last year. research analysts expect that NN will post 1.63 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Monday, September 3rd will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Thursday, August 30th. NN’s payout ratio is currently 18.06%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Putnam Investments LLC boosted its stake in NN by 319.5% during the 2nd quarter. Putnam Investments LLC now owns 131,955 shares of the industrial products company’s stock valued at $2,494,000 after purchasing an additional 100,500 shares in the last quarter. Millennium Management LLC bought a new position in NN during the 2nd quarter valued at $1,274,000. Citadel Advisors LLC bought a new position in NN during the 2nd quarter valued at $2,696,000. Private Management Group Inc. boosted its stake in NN by 4.5% during the 2nd quarter. Private Management Group Inc. now owns 740,300 shares of the industrial products company’s stock valued at $13,992,000 after purchasing an additional 32,161 shares in the last quarter. Finally, Yorktown Management & Research Co Inc boosted its stake in NN by 20.4% during the 2nd quarter. Yorktown Management & Research Co Inc now owns 46,729 shares of the industrial products company’s stock valued at $883,000 after purchasing an additional 7,929 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

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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