Zacks Investment Research lowered shares of NN, Inc. (NASDAQ:NNBR) from a hold rating to a sell rating in a research report released on Wednesday morning.

According to Zacks, “NN, Inc. is an independent manufacturer and supplier of high quality, precision steel balls and rollers to both domestic and international anti-friction bearing manufacturers. Precision steel balls and rollers are critical moving parts of anti-friction bearings used in a wide variety of automotive, industrial and other applications. NN also manufacturers a full line of precision injection molded components serving the bearing, automotive, instrumentation, fiber optic and consumer hardware markets. (PRESS RELEASE) “

Several other brokerages have also recently weighed in on NNBR. William Blair reissued a market perform rating on shares of NN in a report on Tuesday, July 11th. ValuEngine raised NN from a hold rating to a buy rating in a report on Friday, June 2nd. TheStreet raised NN from a c+ rating to a b rating in a report on Monday, June 5th. Finally, SunTrust Banks, Inc. assumed coverage on NN in a report on Thursday, June 15th. They set a buy rating and a $37.00 price objective for the company. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $30.67.

NN (NASDAQ:NNBR) traded up 1.54% during trading on Wednesday, hitting $29.65. 50,340 shares of the stock traded hands. NN has a 52 week low of $13.43 and a 52 week high of $31.65. The stock has a market cap of $814.34 million, a P/E ratio of 48.61 and a beta of 0.63. The firm’s 50-day moving average is $28.30 and its 200 day moving average is $23.72.

NN (NASDAQ:NNBR) last announced its quarterly earnings data on Thursday, May 4th. The industrial products company reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.05. The firm had revenue of $226.31 million during the quarter, compared to analysts’ expectations of $215.86 million. NN had a return on equity of 14.04% and a net margin of 2.00%. Equities research analysts forecast that NN will post $1.61 earnings per share for the current fiscal year.

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Hedge funds have recently made changes to their positions in the company. US Bancorp DE raised its position in NN by 4.5% in the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock valued at $265,000 after buying an additional 457 shares during the last quarter. LSV Asset Management raised its position in NN by 124.8% in the first quarter. LSV Asset Management now owns 113,102 shares of the industrial products company’s stock valued at $2,850,000 after buying an additional 62,800 shares during the last quarter. Wells Fargo & Company MN raised its position in NN by 0.7% in the first quarter. Wells Fargo & Company MN now owns 25,214 shares of the industrial products company’s stock valued at $635,000 after buying an additional 176 shares during the last quarter. First Manhattan Co. raised its position in NN by 0.5% in the first quarter. First Manhattan Co. now owns 209,600 shares of the industrial products company’s stock valued at $3,825,000 after buying an additional 950 shares during the last quarter. Finally, Skylands Capital LLC raised its position in NN by 4.5% in the first quarter. Skylands Capital LLC now owns 407,436 shares of the industrial products company’s stock valued at $10,267,000 after buying an additional 17,536 shares during the last quarter. 95.85% of the stock is owned by hedge funds and other institutional investors.

About NN

NN, Inc is a diversified industrial company and a manufacturer of high precision bearing components, industrial plastic products and precision metal components to a range of markets on a global basis. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group.

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