NN (NASDAQ:NNBR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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) “
Several other equities analysts have also recently commented on NNBR. Stifel Nicolaus cut their target price on shares of NN from $29.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, March 12th. BidaskClub upgraded shares of NN from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, ValuEngine upgraded shares of NN from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $32.25.
NN (NASDAQ NNBR) opened at $25.15 on Thursday. The company has a market cap of $676.93, a price-to-earnings ratio of 15.64 and a beta of 0.83. NN has a one year low of $22.30 and a one year high of $32.90. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.72 and a current ratio of 3.16.
NN (NASDAQ:NNBR) last released its earnings results on Thursday, March 8th. The industrial products company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.01). The company had revenue of $156.14 million for the quarter, compared to analyst estimates of $154.67 million. NN had a net margin of 4.87% and a return on equity of 11.94%. NN’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 earnings per share. equities analysts predict that NN will post 1.53 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. Earnest Partners LLC acquired a new position in shares of NN in the 4th quarter valued at $135,000. Capital Fund Management S.A. acquired a new position in shares of NN in the 4th quarter valued at $215,000. Teacher Retirement System of Texas acquired a new position in shares of NN in the 4th quarter valued at $247,000. American Century Companies Inc. acquired a new position in shares of NN in the 3rd quarter valued at $343,000. Finally, MetLife Investment Advisors LLC acquired a new position in shares of NN in the 4th quarter valued at $350,000. Institutional investors own 95.81% of the company’s stock.
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NN Company Profile
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.
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