NN (NASDAQ:NNBR) Stock Rating Lowered by Wall Street Zen

NN (NASDAQ:NNBR) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday.

Several other research analysts have also issued reports on the stock. B. Riley Financial lowered shares of NN from a “buy” rating to a “neutral” rating in a research report on Monday, May 11th. Craig Hallum started coverage on NN in a research report on Monday, July 20th. They set a “buy” rating and a $7.00 price target on the stock. Zacks Research upgraded NN from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NN in a research note on Friday, July 17th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $7.00 price objective on shares of NN in a report on Friday, August 7th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.67.

NN Trading Up 5.4%

Shares of NN stock opened at $4.11 on Friday. NN has a 1 year low of $1.10 and a 1 year high of $4.48. The firm has a market cap of $339.40 million, a PE ratio of -4.28 and a beta of 2.57. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.79 and a quick ratio of 1.08. The company has a 50 day simple moving average of $3.35 and a two-hundred day simple moving average of $2.43.

NN (NASDAQ:NNBR) last released 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 negative net margin of 6.21% and a positive return on equity of 20.38%. Analysts expect that NN will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NN

Hedge funds have recently made changes to their positions in the business. Bank of America Corp DE purchased a new stake in shares of NN in the 2nd quarter valued at $813,000. Corre Partners Management LLC purchased a new position in NN in the 2nd quarter worth $4,446,707,000. Paradigm Capital Management Inc. NY purchased a new position in NN in the 2nd quarter worth $718,000. Algert Global LLC bought a new stake in NN in the second quarter worth $351,000. Finally, Ranger Investment Management L.P. bought a new stake in NN in the second quarter worth $2,040,000. 53.92% of the stock is currently owned by institutional investors.

NN Company Profile

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.