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

Key Points

• Wall Street Zen downgraded NN from “buy” to “hold.” The broader analyst consensus is also “Hold,” with a $5.67 target price; ratings include two Buys, two Holds, and one Sell.
• NN shares opened at $3.90, compared with a 12-month range of $1.10 to $4.48. The stock has risen above its 50-day and 200-day moving averages but carries high leverage, with a debt-to-equity ratio of 7.70.
• NN reported quarterly earnings of $0.11 per share and revenue of $128.74 million, exceeding analysts’ $116.09 million estimate. Institutional investors and hedge funds own approximately 53.92% of the company.

NN (NASDAQ:NNBR - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Sunday.

Other equities research analysts have also recently issued research reports about the stock. Craig Hallum started coverage on shares of NN in a research report on Monday, July 20th. They issued a "buy" rating and a $7.00 target price for the company. B. Riley Financial cut shares of NN from a "buy" rating to a "neutral" rating in a research note on Monday, May 11th. Zacks Research raised shares of NN from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 6th. Lake Street Capital restated a "buy" rating and set a $7.00 target price on shares of NN in a research report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NN in a report on Friday, July 17th. Two equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $5.67.

NN Price Performance

NN stock opened at $3.90 on Friday. The company has a market capitalization of $322.06 million, a price-to-earnings ratio of -4.06 and a beta of 2.57. The company has a current ratio of 1.79, a quick ratio of 1.08 and a debt-to-equity ratio of 7.70. NN has a 12 month low of $1.10 and a 12 month high of $4.48. The stock's 50 day moving average is $3.32 and its 200-day moving average is $2.41.

NN (NASDAQ:NNBR - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.11 earnings per share for the quarter. NN had a positive return on equity of 20.38% and a negative net margin of 6.21%.The business had revenue of $128.74 million during the quarter, compared to analysts' expectations of $116.09 million. Equities research analysts expect that NN will post 0.13 EPS for the current year.

Institutional Trading of NN

Several large investors have recently bought and sold shares of the business. Two Sigma Investments LP bought a new position in NN in the third quarter valued at about $27,000. Hudson Bay Capital Management LP acquired a new position in NN during the second quarter worth about $29,000. Virtu Financial LLC bought a new position in shares of NN in the fourth quarter worth about $30,000. Quinn Opportunity Partners LLC bought a new position in shares of NN in the fourth quarter worth about $32,000. Finally, Addison Advisors LLC acquired a new stake in shares of NN in the 2nd quarter valued at approximately $39,000. 53.92% of the stock is owned by institutional investors and hedge funds.

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.

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