NN (NASDAQ:NNBR) Rating Lowered to Sell at BidaskClub

NN (NASDAQ:NNBR) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, BidAskClub reports.

Other research analysts have also recently issued research reports about the company. ValuEngine raised NN from a “sell” rating to a “hold” rating in a research note on Friday, January 10th. Zacks Investment Research raised NN from a “sell” rating to a “hold” rating in a research note on Friday, October 11th. Finally, William Blair raised NN from a “market perform” rating to an “outperform” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $9.38.

NASDAQ:NNBR traded up $0.37 during midday trading on Tuesday, hitting $9.36. The stock had a trading volume of 9,190 shares, compared to its average volume of 221,648. NN has a one year low of $5.88 and a one year high of $11.70. The company has a market capitalization of $366.55 million, a price-to-earnings ratio of 8.08 and a beta of 1.82. The stock has a 50-day moving average of $8.68 and a 200 day moving average of $7.87. The company has a quick ratio of 1.21, a current ratio of 2.03 and a debt-to-equity ratio of 2.53.

NN (NASDAQ:NNBR) last announced its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.03). NN had a positive return on equity of 10.21% and a negative net margin of 29.60%. The firm had revenue of $213.90 million during the quarter, compared to the consensus estimate of $216.32 million. During the same period last year, the company earned $0.30 EPS. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, sell-side analysts anticipate that NN will post 0.86 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. grew its position in shares of NN by 41.4% in the 2nd quarter. Victory Capital Management Inc. now owns 203,500 shares of the industrial products company’s stock worth $1,986,000 after buying an additional 59,600 shares during the last quarter. Primecap Management Co. CA lifted its holdings in shares of NN by 0.9% during the 2nd quarter. Primecap Management Co. CA now owns 6,352,900 shares of the industrial products company’s stock valued at $62,004,000 after purchasing an additional 58,900 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of NN by 2.1% during the 2nd quarter. BlackRock Inc. now owns 3,026,811 shares of the industrial products company’s stock valued at $29,541,000 after purchasing an additional 63,287 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of NN by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 488,066 shares of the industrial products company’s stock worth $4,764,000 after purchasing an additional 6,816 shares in the last quarter. Finally, State Street Corp boosted its position in shares of NN by 0.6% in the 3rd quarter. State Street Corp now owns 1,042,450 shares of the industrial products company’s stock worth $7,433,000 after purchasing an additional 5,720 shares in the last quarter. Institutional investors own 91.06% of the company’s stock.

About NN

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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