Zacks Investment Research cut shares of NN, Inc. (NASDAQ:NNBR) from a hold rating to a strong sell rating in a report published on Wednesday.

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) “

Other equities analysts also recently issued reports about the stock. TheStreet raised shares of NN from a c+ rating to a b rating in a research note on Monday, June 5th. ValuEngine raised shares of NN from a hold rating to a buy rating in a research note on Friday, June 2nd. SunTrust Banks, Inc. initiated coverage on shares of NN in a research note on Thursday, June 15th. They issued a buy rating and a $37.00 price target on the stock. They noted that the move was a valuation call. Stifel Nicolaus reaffirmed a hold rating and issued a $29.00 price target on shares of NN in a research note on Friday, August 4th. Finally, William Blair reaffirmed a market perform rating on shares of NN in a research note on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. NN currently has an average rating of Hold and a consensus target price of $30.25.

NN (NASDAQ NNBR) traded down 1.55% during midday trading on Wednesday, reaching $25.40. The company’s stock had a trading volume of 179,722 shares. NN has a 12 month low of $13.43 and a 12 month high of $31.65. The stock’s 50-day moving average price is $27.93 and its 200-day moving average price is $25.53. The firm’s market capitalization is $697.61 million.

NN (NASDAQ:NNBR) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. NN had a negative net margin of 0.77% and a positive return on equity of 14.45%. The business had revenue of $225.88 million for the quarter, compared to the consensus estimate of $221 million. During the same period in the prior year, the business posted $0.46 earnings per share. NN’s revenue for the quarter was up 5.4% compared to the same quarter last year. Analysts predict that NN will post $1.62 EPS for the current year.

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Institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its position in NN by 10.3% in the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock valued at $143,000 after buying an additional 530 shares during the last quarter. Bank of Montreal Can acquired a new position in NN during the first quarter valued at approximately $162,000. Highbridge Capital Management LLC acquired a new position in NN during the fourth quarter valued at approximately $220,000. US Bancorp DE increased 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. Finally, Metropolitan Life Insurance Co. NY increased its position in NN by 6.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,698 shares of the industrial products company’s stock valued at $356,000 after buying an additional 1,127 shares during the last quarter. 96.40% of the stock is currently owned by hedge funds and other institutional investors.

NN Company Profile

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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