NN (NASDAQ:NNBR) posted its quarterly earnings data on Thursday. The industrial products company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.06), Fidelity Earnings reports. NN had a net margin of 1.38% and a return on equity of 7.66%. The company had revenue of $205.68 million for the quarter, compared to analysts’ expectations of $210.30 million. During the same period in the previous year, the firm earned $0.23 earnings per share. The firm’s quarterly revenue was up 38.8% on a year-over-year basis.
NASDAQ NNBR opened at $7.79 on Friday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.78 and a current ratio of 2.62. NN has a 12 month low of $7.74 and a 12 month high of $29.50. The company has a market capitalization of $341.07 million, a P/E ratio of 5.02 and a beta of 1.38.
In other NN news, VP Matthew S. Heiter purchased 2,150 shares of the stock in a transaction that occurred on Monday, September 17th. The shares were bought at an average cost of $15.99 per share, with a total value of $34,378.50. Following the acquisition, the vice president now owns 18,184 shares in the company, valued at $290,762.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard D. Holder purchased 3,100 shares of the stock in a transaction that occurred on Friday, September 14th. The stock was acquired at an average cost of $16.04 per share, for a total transaction of $49,724.00. Following the completion of the acquisition, the chief executive officer now owns 173,401 shares in the company, valued at approximately $2,781,352.04. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 6,450 shares of company stock worth $103,387. 2.74% of the stock is owned by insiders.
A number of research analysts have recently weighed in on the company. KeyCorp reaffirmed an “overweight” rating and set a $20.00 price objective (down from $28.00) on shares of NN in a research report on Friday. Zacks Investment Research cut NN from a “hold” rating to a “strong sell” rating in a research report on Saturday, October 13th. Stifel Nicolaus lowered their price objective on NN from $23.00 to $18.00 and set a “hold” rating on the stock in a research report on Thursday, October 11th. Robert W. Baird assumed coverage on NN in a research report on Monday, October 8th. They set a “neutral” rating and a $17.00 price objective on the stock. Finally, William Blair reaffirmed a “market perform” rating on shares of NN in a research report on Friday, September 28th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. NN has a consensus rating of “Hold” and a consensus price target of $22.80.
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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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