NN (NASDAQ:NNBR) Upgraded to Buy at Wall Street Zen

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

Other research analysts have also issued reports about the company. Lake Street Capital reissued a “buy” rating and issued a $7.00 price objective on shares of NN in a report on Friday, August 7th. Craig Hallum assumed coverage on NN in a report on Monday, July 20th. They set a “buy” rating and a $7.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NN in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.67.

NN Price Performance

Shares of NASDAQ NNBR opened at $3.31 on Friday. The company has a debt-to-equity ratio of 7.70, a quick ratio of 1.08 and a current ratio of 1.79. The company has a market cap of $273.34 million, a PE ratio of -3.45 and a beta of 2.61. The business has a 50-day simple moving average of $3.54 and a two-hundred day simple moving average of $2.75. NN has a fifty-two week low of $1.10 and a fifty-two week high of $4.48.

NN (NASDAQ:NNBR) last posted its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter. The firm had revenue of $128.74 million for the quarter, compared to the consensus estimate of $116.09 million. NN had a negative net margin of 6.21% and a positive return on equity of 20.38%. As a group, equities analysts expect that NN will post 0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On NN

A number of institutional investors have recently modified their holdings of the business. Addison Advisors LLC acquired a new position in NN in the 2nd quarter worth about $39,000. AIGH Capital Management LLC acquired a new stake in NN in the second quarter valued at approximately $41,000. AssuredPartners Investment Advisors LLC acquired a new stake in NN in the second quarter valued at approximately $44,000. Nierenberg Investment Management Company LLC purchased a new stake in shares of NN in the second quarter valued at approximately $48,662. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of NN in the second quarter valued at approximately $54,000. 53.92% of the stock is currently owned by institutional investors and hedge funds.

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.