NN, Inc. (NASDAQ:NNBR) Receives Average Rating of “Hold” from Brokerages

Shares of NN, Inc. (NASDAQ:NNBR) have been assigned a consensus recommendation of “Hold” from the five ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $5.6667.

NNBR has been the topic of a number of research reports. Wall Street Zen upgraded NN from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. B. Riley Financial lowered NN from a “buy” rating to a “neutral” rating in a research report on Monday, May 11th. Lake Street Capital reissued a “buy” rating and set a $7.00 price objective on shares of NN in a report on Friday, August 7th. Zacks Research upgraded NN from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NN in a research note on Friday, July 17th.

Institutional Investors Weigh In On NN

A number of institutional investors have recently made changes to their positions in the business. Two Sigma Investments LP bought a new position in shares of NN during the third quarter valued at about $27,000. Hudson Bay Capital Management LP purchased a new stake in NN during the 2nd quarter valued at about $29,000. Virtu Financial LLC bought a new position in NN during the 4th quarter worth approximately $30,000. Quinn Opportunity Partners LLC bought a new position in NN during the 4th quarter worth approximately $32,000. Finally, Addison Advisors LLC purchased a new position in NN in the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 53.92% of the company’s stock.

NN Price Performance

NNBR stock opened at $3.90 on Friday. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.79 and a quick ratio of 1.08. NN has a one year low of $1.10 and a one year high of $4.48. The stock has a market cap of $322.06 million, a PE ratio of -4.06 and a beta of 2.57. The firm has a 50 day simple moving average of $3.32 and a two-hundred day simple moving average of $2.41.

NN (NASDAQ:NNBR) last posted its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.11 earnings per share for the quarter. NN had a negative net margin of 6.21% and a positive return on equity of 20.38%. The firm had revenue of $128.74 million for the quarter, compared to analysts’ expectations of $116.09 million. On average, analysts predict that NN will post 0.13 EPS for the current fiscal year.

About NN

NN, Inc (NASDAQ: NNBR) is a diversified industrial manufacturing company specializing in engineered metal components, powder metal parts and friction materials. Through its subsidiaries, the company develops and produces precision-rolled products for powertrain and chassis applications, engineered friction products for brake and transmission systems, and various metal powders used in automotive, industrial and energy markets. Its offerings span a wide range of component sizes and complexity, from thin‐gauge strips for hybrid and electric vehicle applications to high‐volume sintered parts for commercial and consumer products.

The company’s operations are organized into three business segments.