BidaskClub Lowers NN (NASDAQ:NNBR) to Strong Sell

BidaskClub cut shares of NN (NASDAQ:NNBR) from a sell rating to a strong sell rating in a report issued on Thursday morning, BidAskClub reports.

A number of other brokerages have also commented on NNBR. Zacks Investment Research lowered NN from a buy rating to a hold rating in a research note on Saturday, July 27th. ValuEngine lowered NN from a hold rating to a sell rating in a research note on Tuesday, July 30th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. NN presently has an average rating of Hold and an average target price of $14.35.

Shares of NASDAQ NNBR opened at $6.06 on Thursday. The business has a fifty day simple moving average of $8.14 and a 200 day simple moving average of $8.70. The company has a current ratio of 2.13, a quick ratio of 1.12 and a debt-to-equity ratio of 2.42. The firm has a market capitalization of $252.08 million, a price-to-earnings ratio of 6.13 and a beta of 1.61. NN has a one year low of $5.55 and a one year high of $20.50.



NN (NASDAQ:NNBR) last issued its earnings results on Thursday, August 8th. The industrial products company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The firm had revenue of $221.70 million during the quarter, compared to analyst estimates of $217.95 million. NN had a negative net margin of 30.86% and a positive return on equity of 8.04%. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 earnings per share. On average, research analysts anticipate that NN will post 1.08 earnings per share for the current fiscal year.

In related news, EVP James Robert Atkinson purchased 3,000 shares of the stock in a transaction on Wednesday, June 19th. The shares were purchased at an average cost of $8.65 per share, for a total transaction of $25,950.00. Following the completion of the transaction, the executive vice president now directly owns 21,550 shares of the company’s stock, valued at approximately $186,407.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David Floyd purchased 9,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was bought at an average price of $8.05 per share, for a total transaction of $72,450.00. Following the completion of the transaction, the director now directly owns 23,660 shares of the company’s stock, valued at $190,463. The disclosure for this purchase can be found here. Corporate insiders own 2.48% of the company’s stock.

A number of large investors have recently made changes to their positions in NNBR. Primecap Management Co. CA grew its holdings in shares of NN by 0.9% during the second quarter. Primecap Management Co. CA now owns 6,352,900 shares of the industrial products company’s stock worth $62,004,000 after buying an additional 58,900 shares in the last quarter. First Manhattan Co. grew its stake in NN by 52.2% in the second quarter. First Manhattan Co. now owns 157,500 shares of the industrial products company’s stock valued at $1,537,000 after purchasing an additional 54,000 shares in the last quarter. Victory Capital Management Inc. grew its stake in NN by 41.4% in the second quarter. Victory Capital Management Inc. now owns 203,500 shares of the industrial products company’s stock valued at $1,986,000 after purchasing an additional 59,600 shares in the last quarter. Jefferies Group LLC bought a new position in NN in the second quarter valued at approximately $105,000. Finally, Morgan Stanley grew its stake in NN by 1,223.1% in the second quarter. Morgan Stanley now owns 424,495 shares of the industrial products company’s stock valued at $4,143,000 after purchasing an additional 392,411 shares in the last quarter. Hedge funds and other institutional investors own 98.88% 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.

Recommended Story: Do equity income investments outperform growth and income investments?

Analyst Recommendations for NN (NASDAQ:NNBR)

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.