A number of other brokerages have also commented on NNBR. Zacks Investment Research lowered NN from a buy rating to a hold rating in a research note on Saturday, July 27th. ValuEngine lowered NN from a hold rating to a sell rating in a research note on Tuesday, July 30th. Three 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 presently has an average rating of Hold and an average target price of $14.35.
Shares of NASDAQ NNBR opened at $6.06 on Thursday. The business has a fifty day simple moving average of $8.14 and a 200 day simple moving average of $8.70. The company has a current ratio of 2.13, a quick ratio of 1.12 and a debt-to-equity ratio of 2.42. The firm has a market capitalization of $252.08 million, a price-to-earnings ratio of 6.13 and a beta of 1.61. NN has a one year low of $5.55 and a one year high of $20.50.
In related news, EVP James Robert Atkinson purchased 3,000 shares of the stock in a transaction on Wednesday, June 19th. The shares were purchased at an average cost of $8.65 per share, for a total transaction 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 approximately $186,407.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David Floyd purchased 9,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was bought at an average price 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 $190,463. The disclosure for this purchase can be found here. Corporate insiders own 2.48% of the company’s stock.
A number of large investors have recently made changes to their positions in NNBR. Primecap Management Co. CA grew its holdings in shares of NN by 0.9% during the second quarter. Primecap Management Co. CA now owns 6,352,900 shares of the industrial products company’s stock worth $62,004,000 after buying an additional 58,900 shares in the last quarter. First Manhattan Co. grew its stake in NN by 52.2% in the second quarter. First Manhattan Co. now owns 157,500 shares of the industrial products company’s stock valued at $1,537,000 after purchasing an additional 54,000 shares in the last quarter. Victory Capital Management Inc. grew its stake in NN by 41.4% in the second quarter. Victory Capital Management Inc. now owns 203,500 shares of the industrial products company’s stock valued at $1,986,000 after purchasing an additional 59,600 shares in the last quarter. Jefferies Group LLC bought a new position in NN in the second quarter valued at approximately $105,000. Finally, Morgan Stanley grew its stake in NN by 1,223.1% in the second quarter. Morgan Stanley now owns 424,495 shares of the industrial products company’s stock valued at $4,143,000 after purchasing an additional 392,411 shares in the last quarter. Hedge funds and other 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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