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 brokerages have also weighed in on NNBR. ValuEngine lowered shares of NN from a hold rating to a sell rating in a report on Tuesday, July 30th. BidaskClub lowered shares of NN from a sell rating to a strong sell rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $14.35.
Shares of NNBR opened at $6.06 on Thursday. The firm has a market capitalization of $252.08 million, a PE ratio of 5.18 and a beta of 1.61. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.13 and a quick ratio of 1.12. NN has a 1-year low of $5.55 and a 1-year high of $20.50. The company’s fifty day moving average price is $8.14 and its 200-day moving average price is $8.70.
NN (NASDAQ:NNBR) last announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The company had revenue of $221.70 million for the quarter, compared to analysts’ expectations of $217.95 million. NN had a negative net margin of 30.86% and a positive return on equity of 8.04%. NN’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the firm earned $0.38 earnings per share. As a group, research analysts anticipate that NN will post 1.08 EPS for the current fiscal year.
In other NN news, Director David Floyd bought 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was bought at an average cost of $8.05 per share, for a total transaction of $72,450.00. Following the completion of the transaction, the director now directly owns 23,660 shares of the company’s stock, valued at approximately $190,463. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Robert Atkinson bought 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 19th. The shares were acquired at an average price of $8.65 per share, with a total value of $25,950.00. Following the completion of the transaction, the executive vice president now directly owns 21,550 shares of the company’s stock, valued at $186,407.50. The disclosure for this purchase can be found here. 2.48% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of NNBR. Legal & General Group Plc lifted its position in NN by 69.0% during the fourth quarter. Legal & General Group Plc now owns 7,303 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 2,981 shares during the period. Quantamental Technologies LLC acquired a new position in NN during the first quarter valued at $55,000. Bank of Montreal Can lifted its position in NN by 150.4% during the second quarter. Bank of Montreal Can now owns 5,939 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 3,567 shares during the period. BNP Paribas Arbitrage SA lifted its position in NN by 343.0% during the first quarter. BNP Paribas Arbitrage SA now owns 8,763 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 6,785 shares during the period. Finally, Nisa Investment Advisors LLC acquired a new position in shares of NN in the second quarter worth about $68,000. Institutional investors own 98.88% of the company’s stock.
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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