NN (NNBR) Cut to Sell at Zacks Investment Research
Resource from: https://macondaily.com/2018/03/19/nn-nnbr-cut-to-sell-at-zacks-investment-research.html Likes:234
Mar 20,2018
Zacks Investment Research cut shares of NN (NASDAQ:NNBR) from a hold rating to a sell rating in a report issued on Thursday morning.
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 analysts have also recently issued reports on the company. ValuEngine cut NN from a strong-buy rating to a buy rating in a research report on Friday, December 1st. BidaskClub cut NN from a hold rating to a sell rating in a research report on Friday, January 19th. Finally, Stifel Nicolaus lowered their price objective on NN from $29.00 to $28.00 and set a hold rating on the stock in a research report on Monday, March 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $32.25.
NNBR stock opened at $25.15 on Thursday. NN has a 1-year low of $22.30 and a 1-year high of $32.90. The company has a market capitalization of $693.46, a P/E ratio of 18.77 and a beta of 0.83. The company has a current ratio of 3.16, a quick ratio of 2.72 and a debt-to-equity ratio of 1.80.
NN (NASDAQ:NNBR) last issued its quarterly earnings results on Thursday, March 8th. The industrial products company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). NN had a return on equity of 11.94% and a net margin of 4.87%. The business had revenue of $156.14 million for the quarter, compared to analyst estimates of $154.67 million. During the same quarter last year, the firm earned $0.21 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. equities research analysts anticipate that NN will post 1.53 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Friday, February 16th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Thursday, February 15th. NN’s dividend payout ratio is presently 20.90%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of NN by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,319,809 shares of the industrial products company’s stock valued at $67,276,000 after purchasing an additional 12,964 shares during the period. BlackRock Inc. increased its position in shares of NN by 1.4% during the fourth quarter. BlackRock Inc. now owns 1,816,823 shares of the industrial products company’s stock valued at $50,144,000 after purchasing an additional 24,497 shares during the period. Royce & Associates LP increased its position in shares of NN by 5.4% during the fourth quarter. Royce & Associates LP now owns 1,039,893 shares of the industrial products company’s stock valued at $28,701,000 after purchasing an additional 53,509 shares during the period. Elk Creek Partners LLC increased its position in shares of NN by 48.6% during the third quarter. Elk Creek Partners LLC now owns 507,602 shares of the industrial products company’s stock valued at $14,720,000 after purchasing an additional 166,092 shares during the period. Finally, State Street Corp increased its position in shares of NN by 4.8% during the second quarter. State Street Corp now owns 490,158 shares of the industrial products company’s stock valued at $13,454,000 after purchasing an additional 22,530 shares during the period. Institutional investors and hedge funds own 95.81% of the company’s stock.
(https://macondaily.com/2018/03/19/nn-nnbr-cut-to-sell-at-zacks-investment-research.html)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
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