Wall Street Zen Upgrades NN (NASDAQ:NNBR) to Buy

NN (NASDAQ:NNBR) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other research analysts also recently issued reports about the company. Craig Hallum started coverage on NN in a report on Monday, July 20th. They issued 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 report on Friday, July 17th. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $7.00 price objective on shares of NN in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $5.67.

NN Stock Performance

Shares of NASDAQ NNBR opened at $3.31 on Friday. The company has a 50-day simple moving average of $3.54 and a 200-day simple moving average of $2.76. 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 market cap of $273.34 million, a PE ratio of -3.45 and a beta of 2.61. NN has a 12 month low of $1.10 and a 12 month high of $4.48.

NN (NASDAQ:NNBR) last announced its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter. NN had a negative net margin of 6.21% and a positive return on equity of 20.38%. The business had revenue of $128.74 million for the quarter, compared to the consensus estimate of $116.09 million. On average, equities analysts anticipate that NN will post 0.13 earnings per share for the current year.

Hedge Funds Weigh In On NN

Large investors have recently modified their holdings of the company. RBF Capital LLC grew its holdings 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 purchasing an additional 348,945 shares during the period. Walleye Capital LLC purchased a new position in NN in the second quarter valued at approximately $1,962,000. Corre Partners Management LLC purchased a new position in NN in the second quarter valued at approximately $4,446,707. Ranger Investment Management L.P. acquired a new position in NN during the second quarter valued at approximately $2,040,000. Finally, BlackRock Inc. acquired a new position in NN during the second quarter valued at approximately $2,743,000. 53.92% of the stock is currently owned by hedge funds and other institutional investors.

About NN

NN, Inc is an industrial manufacturer that produces highly engineered components and assemblies for customers in the automotive, aerospace and defense, medical, electrical, and general industrial markets. Its products have included precision-machined and molded components, bearings, seals, and other solutions designed for applications that require tight tolerances and reliable performance.

The company historically operated through manufacturing facilities in the United States and other international locations, serving original equipment manufacturers and industrial customers across North America, Europe, and Asia.