NN, Inc. (NASDAQ:NNBR) Receives $5.67 Consensus Target Price from Brokerages

NN, Inc. (NASDAQ:NNBR) has received an average rating of “Hold” from the five analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $5.6667.

NNBR has been the topic of a number of recent analyst reports. Lake Street Capital reissued a “buy” rating and issued a $7.00 price objective on shares of NN in a research note on Friday. Craig Hallum started coverage on NN in a research report on Monday, July 20th. They set a “buy” rating and a $7.00 target price for the company. Zacks Research upgraded NN from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. B. Riley Financial lowered shares of NN from a “buy” rating to a “neutral” rating in a research report on Monday, May 11th. Finally, Wall Street Zen upgraded shares of NN from a “hold” rating to a “buy” rating in a research note on Saturday.

Institutional Investors Weigh In On NN

A number of hedge funds have recently bought and sold shares of NNBR. XTX Topco Ltd bought a new position in NN in the 2nd quarter worth approximately $156,000. Marshall Wace LLP increased its holdings in shares of NN by 334.0% during the 2nd quarter. Marshall Wace LLP now owns 257,234 shares of the industrial products company’s stock worth $540,000 after purchasing an additional 197,960 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of NN during the 2nd quarter worth about $147,000. Jane Street Group LLC acquired a new position in shares of NN during the second quarter valued at about $233,000. Finally, Nantahala Capital Management LLC raised its position in shares of NN by 69.4% during the second quarter. Nantahala Capital Management LLC now owns 2,441,416 shares of the industrial products company’s stock valued at $5,127,000 after buying an additional 1,000,000 shares during the last quarter. 53.92% of the stock is currently owned by institutional investors.

NN Trading Down 3.7%

Shares of NASDAQ:NNBR opened at $3.63 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.08 and a debt-to-equity ratio of 7.70. The stock has a market capitalization of $191.45 million, a PE ratio of -3.78 and a beta of 2.57. NN has a 1 year low of $1.10 and a 1 year high of $4.48. The firm has a fifty day moving average price of $3.27 and a 200 day moving average price of $2.35.

NN (NASDAQ:NNBR) last posted its 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 company had revenue of $128.74 million for the quarter, compared to analyst estimates of $116.09 million. Analysts expect that NN will post 0.16 EPS for the current fiscal year.

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.