NN (NNBR) Rating Increased to Hold at BidaskClub

NN (NASDAQ:NNBR) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

Several other equities research analysts have also commented on NNBR. ValuEngine upgraded NN from a “sell” rating to a “hold” rating in a research note on Saturday, May 12th. Zacks Investment Research upgraded NN from a “sell” rating to a “hold” rating and set a $26.00 price target for the company in a research note on Tuesday. Finally, Stifel Nicolaus dropped their price target on NN from $29.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, March 12th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $31.75.

Shares of NASDAQ:NNBR opened at $22.70 on Wednesday. The stock has a market cap of $628.03 million, a price-to-earnings ratio of 14.65 and a beta of 0.84. The company has a quick ratio of 3.02, a current ratio of 3.77 and a debt-to-equity ratio of 1.62. NN has a 12 month low of $22.75 and a 12 month high of $22.95.

NN (NASDAQ:NNBR) last announced its quarterly earnings results on Thursday, May 10th. The industrial products company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.01). The firm had revenue of $169.15 million for the quarter, compared to analyst estimates of $167.81 million. NN had a return on equity of 9.02% and a net margin of 3.35%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 earnings per share. research analysts predict that NN will post 1.65 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of NNBR. Wells Fargo & Company MN boosted its position in shares of NN by 1,725.7% in the first quarter. Wells Fargo & Company MN now owns 391,329 shares of the industrial products company’s stock worth $9,391,000 after buying an additional 369,895 shares during the period. Nuveen Asset Management LLC boosted its position in shares of NN by 17.3% in the first quarter. Nuveen Asset Management LLC now owns 1,420,015 shares of the industrial products company’s stock worth $34,080,000 after buying an additional 209,232 shares during the period. Ceredex Value Advisors LLC purchased a new stake in shares of NN in the first quarter worth about $3,624,000. Elk Creek Partners LLC boosted its position in shares of NN by 12.7% in the first quarter. Elk Creek Partners LLC now owns 567,249 shares of the industrial products company’s stock worth $13,614,000 after buying an additional 63,780 shares during the period. Finally, Royce & Associates LP boosted its position in shares of NN by 5.4% in the fourth quarter. Royce & Associates LP now owns 1,039,893 shares of the industrial products company’s stock worth $28,701,000 after buying an additional 53,509 shares during the period. 97.45% of the stock is owned by institutional investors.

NN Company Profile

NN, Inc, a diversified industrial company, designs and manufactures high-precision components and assemblies in the United States, Europe, Asia, Canada, Mexico, South America, and internationally. It operates through Autocam Precision Components Group and Precision Engineered Products Group segments.

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