NN, Inc. (NASDAQ:NNBR) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts collectively rate NN, Inc. “Hold,” with one sell, two hold and two buy ratings. The average 12-month price target is $5.67, above the stock’s recent $3.77 price.
• NN reported quarterly EPS of $0.11 and revenue of $128.74 million, exceeding analysts’ revenue estimate of $116.09 million. Analysts expect approximately $0.16 in full-year EPS.
• The company’s shares remain highly leveraged, with a debt-to-equity ratio of 7.70, while institutional investors own 53.92% and insiders hold 19.60% of the stock.

Shares of NN, Inc. (NASDAQ:NNBR - Get Free Report) have been assigned an average rating of "Hold" from the five ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $5.6667.

A number of equities research analysts have issued reports on the stock. Craig Hallum began coverage on shares of NN in a report on Monday, July 20th. They issued a "buy" rating and a $7.00 price target on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NN in a research note on Friday, July 17th. B. Riley Financial lowered shares of NN from a "buy" rating to a "neutral" rating in a report on Monday, May 11th. Lake Street Capital reissued a "buy" rating and issued a $7.00 target price on shares of NN in a research note on Friday. Finally, Zacks Research upgraded NN from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 6th.

NN Stock Down 2.6%

Shares of NNBR opened at $3.77 on Friday. NN has a 1 year low of $1.10 and a 1 year high of $4.48. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.79 and a quick ratio of 1.16. The stock has a 50 day simple moving average of $3.26 and a two-hundred day simple moving average of $2.33. The firm has a market cap of $198.83 million, a P/E ratio of -3.93 and a beta of 2.57.

NN (NASDAQ:NNBR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter. The business had revenue of $128.74 million during the quarter, compared to analyst estimates of $116.09 million. NN had a negative net margin of 6.21% and a positive return on equity of 20.38%. On average, analysts forecast that NN will post 0.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Raymond T. White sold 18,782 shares of NN stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $2.41, for a total value of $45,264.62. Following the sale, the director directly owned 858,283 shares in the company, valued at approximately $2,068,462.03. This trade represents a 2.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 19.60% of the company's stock.

Hedge Funds Weigh In On NN

A number of institutional investors have recently added to or reduced their stakes in NNBR. Two Sigma Investments LP bought a new position in shares of NN during the third quarter valued at $27,000. Hudson Bay Capital Management LP bought a new position in NN in the 2nd quarter worth about $29,000. Virtu Financial LLC bought a new position in NN in the 4th quarter worth about $30,000. Quinn Opportunity Partners LLC purchased a new stake in NN during the 4th quarter valued at about $32,000. Finally, AIGH Capital Management LLC bought a new stake in NN during the 2nd quarter valued at about $41,000. Institutional investors own 53.92% of the company's stock.

About NN

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.

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