Zacks Investment Research Lowers NN (NNBR) to Hold

NN (NASDAQ:NNBR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

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) “

NNBR has been the subject of several other reports. ValuEngine cut NN from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. BidaskClub cut NN from a “hold” rating to a “sell” rating in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $32.50.

NN (NASDAQ NNBR) opened at $24.95 on Thursday. The stock has a market capitalization of $690.71, a price-to-earnings ratio of -48.92 and a beta of 0.66. NN has a 1-year low of $19.35 and a 1-year high of $32.90. The company has a current ratio of 3.16, a quick ratio of 2.72 and a debt-to-equity ratio of 1.80.

In related news, Director David Floyd purchased 1,865 shares of the company’s stock in a transaction on Friday, December 1st. The stock was bought at an average price of $26.98 per share, with a total value of $50,317.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Earnest Partners LLC purchased a new position in NN during the fourth quarter worth $135,000. Capital Fund Management S.A. purchased a new position in NN during the fourth quarter worth $215,000. Teacher Retirement System of Texas purchased a new position in NN during the fourth quarter worth $247,000. Voya Investment Management LLC increased its position in NN by 20.0% during the second quarter. Voya Investment Management LLC now owns 12,222 shares of the industrial products company’s stock worth $335,000 after buying an additional 2,037 shares in the last quarter. Finally, American Century Companies Inc. purchased a new position in NN during the third quarter worth $343,000. 92.29% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY WARNING: “Zacks Investment Research Lowers NN (NNBR) to Hold” was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this story can be accessed at https://www.dispatchtribunal.com/2018/02/24/zacks-investment-research-lowers-nn-nnbr-to-hold.html.

About NN

NN, Inc is a diversified industrial company and a global manufacturer of high precision components and assemblies to a range of markets on a global basis. The Company’s operating segments include: the Precision Engineered Products Group and the Autocam Precision Components Group. Precision Engineered Products Group combines materials science capability with engineering and production solutions to design and manufacture a range of high-precision metal and plastic components, assemblies and finished devices for the medical, electrical, automotive and aerospace end markets.

Get a free copy of the Zacks research report on NN (NNBR)

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.

Leave a Reply