NN (NNBR) Raised to Hold at Zacks Investment Research
According to Zacks, “NN, Inc. is an independent manufacturer and supplier of high quality, precision steel balls and rollers to both domestic and international anti-friction bearing manufacturers. Precision steel balls and rollers are critical moving parts of anti-friction bearings used in a wide variety of automotive, industrial and other applications. NN also manufacturers a full line of precision injection molded components serving the bearing, automotive, instrumentation, fiber optic and consumer hardware markets. (PRESS RELEASE) “
Several other research analysts also recently issued reports on NNBR. BidaskClub raised NN from a sell rating to a hold rating in a research note on Saturday, April 13th. Robert W. Baird cut their price target on NN from $11.00 to $9.00 and set a neutral rating for the company in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. NN has an average rating of Hold and an average target price of $19.00.
NN (NASDAQ:NNBR) last issued its earnings results on Thursday, May 9th. The industrial products company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.16 by $0.04. The company had revenue of $213.26 million for the quarter, compared to analyst estimates of $209.86 million. NN had a negative net margin of 34.01% and a positive return on equity of 7.79%. On average, sell-side analysts forecast that NN will post 1.17 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc raised its stake in shares of NN by 45.5% during the 3rd quarter. Vanguard Group Inc now owns 1,747,698 shares of the industrial products company’s stock worth $27,264,000 after buying an additional 546,327 shares during the last quarter. Morgan Stanley raised its stake in NN by 47.8% in the 3rd quarter. Morgan Stanley now owns 123,548 shares of the industrial products company’s stock valued at $1,928,000 after purchasing an additional 39,946 shares during the last quarter. Renaissance Technologies LLC acquired a new position in NN in the 3rd quarter valued at about $1,050,000. Two Sigma Advisers LP acquired a new position in NN in the 4th quarter valued at about $86,000. Finally, Marshall Wace LLP acquired a new position in NN in the 3rd quarter valued at about $478,000.
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.
Recommended Story: What is the QQQ ETF?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for NN Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NN and related companies with MarketBeat.com's FREE daily email newsletter.