NN (NNBR) Given New $20.00 Price Target at KeyCorp

NN (NASDAQ:NNBR) had its target price decreased by KeyCorp from $28.00 to $20.00 in a research report report published on Friday, The Fly reports. KeyCorp currently has an overweight rating on the industrial products company’s stock.

A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut NN from a hold rating to a strong sell rating in a report on Saturday, October 13th. Stifel Nicolaus cut their price target on NN from $23.00 to $18.00 and set a hold rating on the stock in a report on Thursday, October 11th. Robert W. Baird began coverage on NN in a report on Monday, October 8th. They set a neutral rating and a $17.00 price target on the stock. William Blair reaffirmed a market perform rating on shares of NN in a report on Friday, September 28th. Finally, ValuEngine cut NN from a sell rating to a strong sell rating in a report on Wednesday, September 12th. 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 stock currently has an average rating of Hold and a consensus target price of $22.80.

Shares of NNBR traded down $0.29 during mid-day trading on Friday, reaching $7.79. 1,625,005 shares of the company’s stock traded hands, compared to its average volume of 449,500. The stock has a market cap of $341.07 million, a PE ratio of 5.02 and a beta of 1.38. The company has a current ratio of 2.62, a quick ratio of 1.78 and a debt-to-equity ratio of 2.35. NN has a 12 month low of $7.74 and a 12 month high of $29.50.

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

In related news, VP Matthew S. Heiter acquired 2,150 shares of the stock in a transaction that occurred on Monday, September 17th. The shares were acquired at an average price of $15.99 per share, for a total transaction of $34,378.50. Following the completion of the purchase, the vice president now directly owns 18,184 shares of the company’s stock, valued at $290,762.16. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard D. Holder acquired 3,100 shares of the stock in a transaction that occurred on Friday, September 14th. The shares were bought at an average price of $16.04 per share, for a total transaction of $49,724.00. Following the purchase, 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. In the last ninety days, insiders have bought 6,450 shares of company stock worth $103,387. Corporate insiders own 2.74% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC increased its stake in shares of NN by 57.1% during the third quarter. Jennison Associates LLC now owns 3,457,297 shares of the industrial products company’s stock valued at $53,934,000 after acquiring an additional 1,256,116 shares during the period. BlackRock Inc. increased its stake in shares of NN by 8.2% during the second quarter. BlackRock Inc. now owns 1,962,418 shares of the industrial products company’s stock valued at $37,087,000 after acquiring an additional 148,478 shares during the period. Wells Fargo & Company MN increased its stake in shares of NN by 196.4% during the third quarter. Wells Fargo & Company MN now owns 1,499,160 shares of the industrial products company’s stock valued at $23,387,000 after acquiring an additional 993,387 shares during the period. Royce & Associates LP increased its stake in shares of NN by 15.4% during the second quarter. Royce & Associates LP now owns 1,306,149 shares of the industrial products company’s stock valued at $24,686,000 after acquiring an additional 174,756 shares during the period. Finally, Elk Creek Partners LLC increased its stake in shares of NN by 47.0% during the third quarter. Elk Creek Partners LLC now owns 1,059,076 shares of the industrial products company’s stock valued at $16,522,000 after acquiring an additional 338,669 shares during the period. Institutional investors and hedge funds own 96.89% of the company’s stock.

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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