NN, Inc. (NASDAQ:NNBR) Stock Has Average Target Price of $5.67

NN, Inc. (NASDAQ:NNBR) has been assigned a consensus rating of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $5.67.

A number of research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of NN in a research note on Thursday, October 15th. Wall Street Zen upgraded NN from a “hold” rating to a “buy” rating in a research report on Saturday, September 19th. Zacks Research raised NN from a “hold” rating to a “strong-buy” rating in a report on Friday, October 9th. Craig Hallum assumed coverage on NN in a research report on Monday, July 20th. They issued a “buy” rating and a $7.00 target price for the company. Finally, Lake Street Capital reiterated a “buy” rating and issued a $7.00 target price on shares of NN in a research report on Friday, August 7th.

Institutional Trading of NN

Several institutional investors have recently modified their holdings of NNBR. Addison Advisors LLC acquired a new stake in NN during the 2nd quarter valued at approximately $39,000. AIGH Capital Management LLC bought a new stake in shares of NN in the 2nd quarter valued at $41,000. AssuredPartners Investment Advisors LLC bought a new stake in shares of NN in the 2nd quarter valued at $44,000. Nierenberg Investment Management Company LLC bought a new stake in shares of NN in the 2nd quarter valued at $48,662. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of NN during the second quarter worth $54,000. Institutional investors own 53.92% of the company’s stock.

NN Trading Up 1.8%

Shares of NN stock opened at $3.36 on Thursday. The firm’s 50 day moving average is $3.64 and its 200 day moving average is $2.66. The firm has a market capitalization of $314.97 million, a PE ratio of -3.50 and a beta of 2.65. NN has a 1 year low of $1.10 and a 1 year high of $4.79. 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 issued its quarterly earnings data 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 the consensus estimate of $116.09 million. NN had a negative net margin of 6.21% and a positive return on equity of 20.38%. Equities research analysts forecast that NN will post 0.15 earnings per share for the current fiscal year.

About NN

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.