NN (NASDAQ:NNBR) Stock Dropped to Hold by Wall Street Zen

Wall Street Zen lowered shares of NN (NASDAQ:NNBR) from a buy rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

A number of other brokerages have also recently weighed in on NNBR. Craig Hallum initiated coverage on NN in a research note on Monday, July 20th. They issued a “buy” rating and a $7.00 price objective for the company. Lake Street Capital reissued a “buy” rating and set a $7.00 target price on shares of NN in a research note on Friday, August 7th. Zacks Research raised NN from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NN in a report on Thursday, October 15th. One equities research 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 given a Sell rating to the company. Based on data from MarketBeat, NN currently has an average rating of “Moderate Buy” and a consensus price target of $5.67.

NN Stock Performance

Shares of NNBR stock opened at $3.93 on Friday. The firm’s 50 day moving average price is $3.63 and its 200-day moving average price is $2.71. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.08 and a current ratio of 1.75. NN has a one year low of $1.10 and a one year high of $4.79. The firm has a market cap of $368.40 million, a P/E ratio of -4.57 and a beta of 2.65.

NN (NASDAQ:NNBR) last posted its quarterly earnings data 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. NN had a negative net margin of 5.43% and a positive return on equity of 25.25%. The firm had revenue of $131.10 million during the quarter, compared to analysts’ expectations of $118.10 million. As a group, equities research analysts predict that NN will post 0.15 EPS for the current year.

Institutional Trading of NN

A number of large investors have recently modified their holdings of NNBR. State of Wyoming acquired a new stake in NN in the 3rd quarter valued at about $36,000. Kings Path Partners LLC purchased a new position in shares of NN in the 3rd quarter valued at about $157,000. State Street Corp boosted its stake in shares of NN by 6.6% in the 2nd quarter. State Street Corp now owns 224,344 shares of the industrial products company’s stock valued at $805,000 after buying an additional 13,835 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of NN during the second quarter worth about $54,000. Finally, AXQ Capital LP acquired a new position in shares of NN during the second quarter worth about $62,000. Hedge funds and other institutional investors own 53.92% of the company’s stock.

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.