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

Key Points

• Wall Street Zen upgraded NN from “hold” to “buy,” although broader analyst sentiment remains “Hold,” with a consensus price target of $5.67. Lake Street Capital and Craig Hallum also maintain “buy” ratings with $7 targets, while Weiss Ratings rates the stock “sell.”
• NNBR shares opened at $3.31, down 1.8%, with a market capitalization of approximately $273 million. The company reported quarterly EPS of $0.11 and revenue of $128.74 million, exceeding analysts’ revenue expectations.
• Institutional investors own approximately 53.92% of NN’s shares, with several funds—including BlackRock, Corre Partners Management, and Walleye Capital—recently establishing or increasing positions.

NN (NASDAQ:NNBR - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday, Wall Street Zen reports.

A number of other brokerages have also recently issued reports on NNBR. Weiss Ratings reissued a "sell (d-)" rating on shares of NN in a research report on Friday, July 17th. Lake Street Capital reiterated a "buy" rating and set a $7.00 target price on shares of NN in a report on Friday, August 7th. Finally, Craig Hallum assumed coverage on NN in a research report on Monday, July 20th. They issued a "buy" rating and a $7.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, NN has an average rating of "Hold" and a consensus target price of $5.67.

NN Trading Down 1.8%

NNBR opened at $3.31 on Friday. The business has a 50 day simple moving average of $3.54 and a two-hundred day simple moving average of $2.75. The firm has a market capitalization of $273.34 million, a price-to-earnings ratio of -3.45 and a beta of 2.61. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.79 and a quick ratio of 1.08. NN has a one year low of $1.10 and a one year high of $4.48.

NN (NASDAQ:NNBR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter. The company had revenue of $128.74 million for 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 predict that NN will post 0.13 EPS for the current year.

Institutional Investors Weigh In On NN

A number of institutional investors have recently made changes to their positions in NNBR. RBF Capital LLC grew its position 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 during the period. Walleye Capital LLC purchased a new position in shares of NN during the 2nd quarter worth $1,962,000. Corre Partners Management LLC bought a new stake in shares of NN during the 2nd quarter valued at $4,446,707. BlackRock Inc. bought a new stake in shares of NN during the 2nd quarter valued at $2,743,000. Finally, Ranger Investment Management L.P. purchased a new stake in shares of NN in the 2nd quarter worth $2,040,000. Hedge funds and other institutional investors own 53.92% of the company's stock.

NN Company Profile

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.

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