NN’s (NNBR) “Buy” Rating Reiterated at SunTrust Banks

NN (NASDAQ:NNBR)‘s stock had its “buy” rating reissued by equities research analysts at SunTrust Banks in a research note issued to investors on Sunday. They presently have a $33.00 target price on the industrial products company’s stock. SunTrust Banks’ target price would indicate a potential upside of 67.51% from the stock’s previous close.

A number of other equities research analysts have also commented on the company. Zacks Investment Research upgraded NN from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. ValuEngine raised NN from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 31st. BidaskClub raised NN from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 31st. Finally, KeyCorp cut their price target on NN from $36.00 to $28.00 and set an “overweight” rating for the company in a research note on Monday, July 16th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. NN currently has a consensus rating of “Hold” and an average target price of $28.75.

Shares of NN traded down $0.35, reaching $19.70, during midday trading on Friday, Marketbeat Ratings reports. The company had a trading volume of 261,406 shares, compared to its average volume of 194,416. The company has a quick ratio of 3.02, a current ratio of 3.77 and a debt-to-equity ratio of 1.62. NN has a 1-year low of $18.05 and a 1-year high of $32.90. The firm has a market capitalization of $554.71 million, a price-to-earnings ratio of 12.71 and a beta of 1.02.

NN (NASDAQ:NNBR) last announced its quarterly earnings data on Thursday, August 9th. The industrial products company reported $0.38 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.38. NN had a return on equity of 7.53% and a net margin of 3.05%. The firm had revenue of $196.30 million during the quarter, compared to analyst estimates of $197.21 million. During the same period last year, the company posted $0.51 EPS. The business’s quarterly revenue was up 24.3% compared to the same quarter last year. equities analysts predict that NN will post 1.63 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. A.R.T. Advisors LLC bought a new position in shares of NN in the 1st quarter valued at approximately $239,000. MetLife Investment Advisors LLC acquired a new stake in NN in the 4th quarter valued at approximately $350,000. Stifel Financial Corp grew its holdings in NN by 33.3% in the 1st quarter. Stifel Financial Corp now owns 20,000 shares of the industrial products company’s stock valued at $480,000 after buying an additional 5,000 shares during the last quarter. Rhumbline Advisers grew its holdings in NN by 13.8% in the 2nd quarter. Rhumbline Advisers now owns 28,137 shares of the industrial products company’s stock valued at $532,000 after buying an additional 3,407 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in NN in the 4th quarter valued at approximately $610,000. 98.74% of the stock is owned by institutional investors.

About NN

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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