NN (NASDAQ:NNBR) Rating Lowered to “Hold” at Wall Street Zen

NN (NASDAQ:NNBR) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other research firms also recently weighed in on NNBR. Lake Street Capital reissued a “buy” rating and set a $7.00 target price on shares of NN in a research report on Friday, August 7th. Zacks Research upgraded shares of NN from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 9th. Craig Hallum began coverage on shares of NN in a research note on Monday, July 20th. They issued a “buy” rating and a $7.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NN in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, NN currently has an average rating of “Moderate Buy” and a consensus target price of $5.67.

NN Price Performance

NASDAQ:NNBR opened at $3.93 on Friday. The stock has a market capitalization of $368.40 million, a P/E ratio of -4.57 and a beta of 2.74. The company’s 50-day simple moving average is $3.63 and its 200-day simple moving average is $2.71. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.07 and a current ratio of 1.75. NN has a fifty-two week low of $1.10 and a fifty-two week high of $4.79.

NN (NASDAQ:NNBR) last issued its quarterly earnings results on Wednesday, October 28th. The industrial products company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The firm had revenue of $131.10 million during the quarter, compared to analysts’ expectations of $118.10 million. NN had a negative net margin of 5.43% and a positive return on equity of 25.25%. On average, equities analysts anticipate that NN will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NNBR. State of Wyoming bought a new stake in shares of NN during the third quarter worth $36,000. Addison Advisors LLC acquired a new position in shares of NN in the second quarter worth $39,000. AIGH Capital Management LLC acquired a new position in NN during the second quarter worth approximately $41,000. AssuredPartners Investment Advisors LLC purchased a new stake in shares of NN in the second quarter valued at approximately $44,000. Finally, Nierenberg Investment Management Company LLC acquired a new position in shares of NN in the second quarter worth $48,662. Institutional investors own 53.92% of the company’s stock.

NN Company Profile

NN, Inc (NASDAQ: NNBR) is a diversified industrial manufacturer that produces highly engineered components and assemblies for customers in the automotive, electrical, industrial, aerospace, and medical markets. Its products are designed for applications that require precision, durability, and consistent performance.

The company’s manufacturing capabilities have included precision machining, metal forming, plastic injection molding, and the production of complex assemblies. NN, Inc has supplied components used in systems such as automotive powertrains, electrical and industrial equipment, medical devices, and other specialized products.

Founded in 1980 as NN Ball & Roller, the company expanded beyond its original bearing-component operations through acquisitions and later adopted the NN, Inc name.