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

Wall Street Zen downgraded shares of NN (NASDAQ:NNBR) from a buy rating to a hold rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Other equities research analysts also recently issued reports about the company. Craig Hallum started coverage on NN in a research note on Monday, July 20th. They set a “buy” rating and a $7.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of NN in a research report on Thursday, October 15th. Zacks Research raised shares of NN from a “hold” rating to a “strong-buy” rating in a report on Friday, October 9th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $7.00 price target on shares of NN in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.67.

NN Stock Performance

NN stock opened at $3.72 on Friday. The stock’s 50 day simple moving average is $3.63 and its two-hundred day simple moving average is $2.72. The company has a debt-to-equity ratio of 7.70, a quick ratio of 1.08 and a current ratio of 1.79. The stock has a market cap of $348.73 million, a price-to-earnings ratio of -4.33 and a beta of 2.65. NN has a fifty-two week low of $1.10 and a fifty-two week high of $4.79.

NN (NASDAQ:NNBR) last released its earnings results on Wednesday, October 28th. The industrial products company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The firm had revenue of $131.10 million for the quarter, compared to analysts’ expectations of $118.10 million. NN had a positive return on equity of 43.10% and a negative net margin of 5.43%. As a group, analysts expect that NN will post 0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NN

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State of Wyoming acquired a new position in shares of NN in the 3rd quarter valued at about $36,000. Addison Advisors LLC acquired a new position in NN during the second quarter worth about $39,000. AIGH Capital Management LLC purchased a new position in shares of NN during the 2nd quarter worth $41,000. AssuredPartners Investment Advisors LLC purchased a new stake in shares of NN in the 2nd quarter valued at approximately $44,000. Finally, Nierenberg Investment Management Company LLC purchased a new position in shares of NN during the 2nd quarter worth $48,662. Hedge funds and other 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.