NN (NASDAQ:NNBR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of NN (NASDAQ:NNBR) from a hold rating to a buy rating in a report released on Saturday,Wall Street Zen reports.

Several other analysts also recently issued reports on NNBR. Lake Street Capital reaffirmed a “buy” rating and issued a $7.00 price target on shares of NN in a report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NN in a research note on Friday, July 17th. Finally, Craig Hallum started coverage on NN in a report on Monday, July 20th. They set a “buy” rating and a $7.00 target price on the stock. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $5.67.

NN Trading Up 1.2%

Shares of NNBR stock opened at $3.35 on Friday. The stock has a market cap of $276.64 million, a P/E ratio of -3.49 and a beta of 2.61. The company has a quick ratio of 1.08, a current ratio of 1.79 and a debt-to-equity ratio of 7.70. NN has a fifty-two week low of $1.10 and a fifty-two week high of $4.48. The business has a fifty day simple moving average of $3.54 and a 200-day simple moving average of $2.77.

NN (NASDAQ:NNBR) last released its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.11 EPS for the quarter. NN had a negative net margin of 6.21% and a positive return on equity of 20.38%. The business had revenue of $128.74 million for the quarter, compared to analyst estimates of $116.09 million. On average, analysts forecast that NN will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NN

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ameritas Advisory Services LLC acquired a new stake in NN in the 2nd quarter worth about $54,000. AXQ Capital LP acquired a new position in shares of NN during the 2nd quarter valued at about $62,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of NN during the 2nd quarter worth about $311,000. Two Sigma Securities LLC purchased a new position in NN during the second quarter worth approximately $85,000. Finally, Empowered Funds LLC acquired a new position in shares of NN in the 2nd quarter valued at $375,000. Hedge funds and other institutional investors own 53.92% of the company’s stock.

NN Company Profile

NN, Inc is an industrial manufacturer that produces highly engineered components and assemblies for customers in the automotive, aerospace and defense, medical, electrical, and general industrial markets. Its products have included precision-machined and molded components, bearings, seals, and other solutions designed for applications that require tight tolerances and reliable performance.

The company historically operated through manufacturing facilities in the United States and other international locations, serving original equipment manufacturers and industrial customers across North America, Europe, and Asia.