NN, Inc. (NASDAQ:NNBR) Given Consensus Recommendation of “Hold” by Brokerages

NN, Inc. (NASDAQ:NNBR) has been given an average recommendation of “Hold” by the five brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $5.6667.

Several brokerages have recently commented on NNBR. Wall Street Zen lowered NN from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Craig Hallum initiated coverage on NN in a research note on Monday, July 20th. They issued a “buy” rating and a $7.00 price target on the stock. Lake Street Capital reaffirmed a “buy” rating and set a $7.00 price target on shares of NN in a report on Friday, August 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NN in a report on Friday, July 17th.

NN Price Performance

NASDAQ:NNBR opened at $3.74 on Wednesday. NN has a 1-year low of $1.10 and a 1-year high of $4.48. The stock has a market capitalization of $308.85 million, a PE ratio of -3.90 and a beta of 2.61. The firm has a fifty day simple moving average of $3.56 and a 200 day simple moving average of $2.65. The company has a current ratio of 1.79, a quick ratio of 1.08 and a debt-to-equity ratio of 7.70.

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

Institutional Investors Weigh In On NN

Large investors have recently added to or reduced their stakes in the stock. RBF Capital LLC boosted its position in shares of NN by 71.8% during the 1st quarter. RBF Capital LLC now owns 834,929 shares of the industrial products company’s stock worth $1,211,000 after acquiring an additional 348,945 shares in the last quarter. Walleye Capital LLC bought a new stake in NN during the 2nd quarter worth $1,962,000. Corre Partners Management LLC acquired a new position in shares of NN in the second quarter valued at approximately $4,446,707. Ranger Investment Management L.P. bought a new stake in NN during the 2nd quarter worth approximately $2,040,000. Finally, De Lisle Partners LLP bought a new stake in NN during the 2nd quarter worth approximately $1,895,000. Institutional investors and hedge funds own 53.92% of the company’s stock.

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.