NN (NNBR) PT Lowered to $20.00 at KeyCorp

NN (NASDAQ:NNBR) had its price target dropped by equities research analysts at KeyCorp from $28.00 to $20.00 in a note issued to investors on Friday, The Fly reports. The firm currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s target price suggests a potential upside of 156.90% from the company’s current price.

A number of other research analysts have also commented on NNBR. BidaskClub raised shares of NN from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 31st. ValuEngine raised shares of NN from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 31st. Zacks Investment Research raised shares of NN from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. SunTrust Banks reaffirmed a “buy” rating and set a $33.00 price objective on shares of NN in a research report on Sunday, August 12th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $23.00 price objective (down previously from $26.00) on shares of NN in a research report on Monday, August 13th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $22.80.

Shares of NNBR opened at $7.79 on Friday. The stock has a market cap of $223.78 million, a PE ratio of 6.21 and a beta of 1.38. The company has a debt-to-equity ratio of 2.35, a current ratio of 2.62 and a quick ratio of 1.78. NN has a 52 week low of $7.74 and a 52 week high of $29.50.

NN (NASDAQ:NNBR) last announced its quarterly earnings data on Thursday, November 8th. The industrial products company reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.06). The company had revenue of $205.68 million for the quarter, compared to analyst estimates of $210.30 million. NN had a net margin of 1.38% and a return on equity of 7.66%. The firm’s quarterly revenue was up 38.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 EPS. Equities analysts predict that NN will post 1.45 EPS for the current year.

In other NN news, VP Matthew S. Heiter purchased 2,150 shares of the company’s stock in a transaction that occurred on Monday, September 17th. The stock was purchased at an average price of $15.99 per share, with a total value of $34,378.50. Following the completion of the transaction, the vice president now directly owns 18,184 shares of the company’s stock, valued at approximately $290,762.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Richard D. Holder purchased 3,100 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The stock was acquired at an average cost of $16.04 per share, with a total value of $49,724.00. Following the transaction, the chief executive officer now directly owns 173,401 shares of the company’s stock, valued at $2,781,352.04. The disclosure for this purchase can be found here. Insiders have bought 6,450 shares of company stock valued at $103,387 in the last ninety days. 2.74% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. Elk Creek Partners LLC raised its position in NN by 47.0% in the third quarter. Elk Creek Partners LLC now owns 1,059,076 shares of the industrial products company’s stock worth $16,522,000 after purchasing an additional 338,669 shares in the last quarter. PNC Financial Services Group Inc. raised its position in NN by 11,750.0% in the third quarter. PNC Financial Services Group Inc. now owns 7,584 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 7,520 shares in the last quarter. Keybank National Association OH acquired a new position in NN in the third quarter worth about $780,000. Jennison Associates LLC raised its position in NN by 57.1% in the third quarter. Jennison Associates LLC now owns 3,457,297 shares of the industrial products company’s stock worth $53,934,000 after purchasing an additional 1,256,116 shares in the last quarter. Finally, Guyasuta Investment Advisors Inc. raised its position in NN by 30.7% in the third quarter. Guyasuta Investment Advisors Inc. now owns 76,635 shares of the industrial products company’s stock worth $1,196,000 after purchasing an additional 18,000 shares in the last quarter. 96.89% 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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