TheStreet Upgrades NN, Inc. (NNBR) to B
NN, Inc. (NASDAQ:NNBR) was upgraded by stock analysts at TheStreet from a “c+” rating to a “b” rating in a research note issued on Monday.
Other research analysts also recently issued research reports about the stock. ValuEngine upgraded shares of NN from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research raised NN from a “sell” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Tuesday, March 7th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $23.33.
NN (NNBR) traded down 1.91% during trading on Monday, reaching $28.25. 89,906 shares of the company’s stock traded hands. The firm’s 50 day moving average is $28.20 and its 200-day moving average is $22.54. NN has a 12 month low of $12.77 and a 12 month high of $31.65. The company has a market capitalization of $775.89 million, a price-to-earnings ratio of 46.31 and a beta of 0.86.
NN (NASDAQ:NNBR) last issued its quarterly earnings results on Thursday, May 4th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.05. The business had revenue of $226.31 million for the quarter, compared to the consensus estimate of $215.86 million. NN had a negative net margin of 2.73% and a positive return on equity of 11.50%. Analysts expect that NN will post $1.83 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Friday, June 2nd will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $0.28 annualized dividend and a yield of 0.97%. NN’s dividend payout ratio is currently -33.33%.
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A number of hedge funds have recently made changes to their positions in the company. Granahan Investment Management Inc. MA purchased a new stake in shares of NN during the first quarter valued at $3,248,000. Bank of America Corp DE boosted its stake in shares of NN by 52.6% in the first quarter. Bank of America Corp DE now owns 126,455 shares of the industrial products company’s stock valued at $3,187,000 after buying an additional 43,605 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of NN by 23.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 133,392 shares of the industrial products company’s stock valued at $3,362,000 after buying an additional 25,011 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of NN during the first quarter valued at $650,000. Finally, UBS Group AG boosted its stake in shares of NN by 255.9% in the first quarter. UBS Group AG now owns 20,255 shares of the industrial products company’s stock valued at $511,000 after buying an additional 14,564 shares in the last quarter. 96.99% of the stock is owned by hedge funds and other institutional investors.
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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