NN, Inc. (NASDAQ:NNBR) Stock Rated “Hold” by Wall Street Analysts

Shares of NN, Inc. (NASDAQ:NNBR) have been given a consensus rating of “Hold” by the five research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $5.67.

NNBR has been the topic of a number of research reports. Lake Street Capital reaffirmed a “buy” rating and set a $7.00 target price on shares of NN in a research report on Friday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of NN in a report on Friday, July 17th. Wall Street Zen raised shares of NN from a “hold” rating to a “buy” rating in a report on Saturday, September 19th. Finally, Craig Hallum began coverage on shares of NN in a research report on Monday, July 20th. They issued a “buy” rating and a $7.00 price target on the stock.

NN Stock Performance

NNBR opened at $3.63 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.79 and a debt-to-equity ratio of 7.70. The stock’s 50 day moving average price is $3.59 and its two-hundred day moving average price is $2.90. The firm has a market capitalization of $299.77 million, a P/E ratio of -3.78 and a beta of 2.65. NN has a 12-month low of $1.10 and a 12-month high of $4.48.

NN (NASDAQ:NNBR) last issued its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.11 EPS 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 during the quarter, compared to analyst estimates of $116.09 million. On average, equities analysts forecast that NN will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On NN

A number of institutional investors have recently added to or reduced their stakes in NNBR. Corre Partners Management LLC bought a new stake in shares of NN in the 2nd quarter worth approximately $4,446,707. RBF Capital LLC lifted its position in NN by 71.8% in the first quarter. RBF Capital LLC now owns 834,929 shares of the industrial products company’s stock worth $1,211,000 after purchasing an additional 348,945 shares during the period. BlackRock Inc. bought a new position in NN in the second quarter worth $2,743,000. Ranger Investment Management L.P. acquired a new stake in NN during the second quarter worth $2,040,000. Finally, Renaissance Technologies LLC boosted its stake in NN by 49.4% during the first quarter. Renaissance Technologies LLC now owns 549,040 shares of the industrial products company’s stock worth $796,000 after buying an additional 181,540 shares in the last quarter. 53.92% of the stock is owned by institutional investors and hedge funds.

About NN

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.