NN (NASDAQ:NNBR) Stock Rating Cut to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded NN (NASDAQ: NNBR) from “buy” to “hold,” although the stock retains a consensus “Moderate Buy” rating and a $5.67 target price.
• NN reported quarterly EPS of $0.07, beating the $0.02 consensus estimate, while revenue of $131.1 million exceeded expectations of $118.1 million.
• NN shares opened at $3.93, compared with a 52-week range of $1.10 to $4.79; institutional investors and hedge funds own approximately 53.92% of the company.

NN (NASDAQ:NNBR - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other analysts have also recently weighed in on the stock. Zacks Research raised shares of NN from a "hold" rating to a "strong-buy" rating in a report on Friday, October 9th. Craig Hallum initiated coverage on shares of NN in a research note on Monday, July 20th. They set a "buy" rating and a $7.00 target price for the company. Lake Street Capital restated a "buy" rating and issued a $7.00 target price on shares of NN in a research report on Friday, August 7th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of NN in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, NN presently has an average rating of "Moderate Buy" and a consensus target price of $5.67.

NN Price Performance

Shares of NASDAQ NNBR opened at $3.93 on Friday. NN has a 1-year low of $1.10 and a 1-year high of $4.79. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.75 and a quick ratio of 1.08. The business's fifty day moving average price is $3.63 and its two-hundred day moving average price is $2.71. The firm has a market capitalization of $368.41 million, a PE ratio of -4.57 and a beta of 2.65.

NN (NASDAQ:NNBR - Get Free Report) last posted its earnings results on Wednesday, October 28th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.05. NN had a positive return on equity of 25.25% and a negative net margin of 5.43%. The company had revenue of $131.10 million for the quarter, compared to analysts' expectations of $118.10 million. On average, research analysts expect that NN will post 0.15 EPS for the current year.

Hedge Funds Weigh In On NN

Hedge funds have recently modified their holdings of the stock. Corre Partners Management LLC acquired a new stake in NN during the 2nd quarter worth about $4,446,707. RBF Capital LLC lifted its stake in NN by 71.8% during the first quarter. RBF Capital LLC now owns 834,929 shares of the industrial products company's stock valued at $1,211,000 after buying an additional 348,945 shares in the last quarter. BlackRock Inc. purchased a new stake in NN during the second quarter valued at about $2,743,000. Ranger Investment Management L.P. acquired a new position in shares of NN in the second quarter worth about $2,040,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of NN by 49.4% in the first quarter. Renaissance Technologies LLC now owns 549,040 shares of the industrial products company's stock worth $796,000 after buying an additional 181,540 shares during the period. 53.92% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.