NN (NASDAQ:NNBR) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of NN (NASDAQ:NNBR) from a sell rating to a hold rating in a research note published on Friday, Zacks.com reports.

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 analysts also recently issued reports on NNBR. ValuEngine raised shares of NN from a strong sell rating to a sell rating in a report on Wednesday, September 4th. BidaskClub raised shares of NN from a strong sell rating to a sell rating in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. NN currently has an average rating of Hold and a consensus price target of $13.44.

NASDAQ NNBR opened at $7.01 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.27 and a debt-to-equity ratio of 2.42. The company has a fifty day simple moving average of $6.96 and a 200 day simple moving average of $7.99. The company has a market cap of $273.69 million, a P/E ratio of 5.99 and a beta of 1.69. NN has a 1 year low of $5.55 and a 1 year high of $13.21.

NN (NASDAQ:NNBR) last posted its quarterly earnings data on Thursday, August 8th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.02). The firm had revenue of $221.70 million for the quarter, compared to the consensus estimate of $217.95 million. NN had a positive return on equity of 8.04% and a negative net margin of 30.86%. NN’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share. Equities research analysts forecast that NN will post 1.06 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.99%. The ex-dividend date was Friday, September 6th. NN’s dividend payout ratio is currently 23.93%.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its stake in NN by 41.4% during the 2nd 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 during the last quarter. Primecap Management Co. CA raised its stake in NN by 0.9% during the 2nd quarter. Primecap Management Co. CA now owns 6,352,900 shares of the industrial products company’s stock valued at $62,004,000 after purchasing an additional 58,900 shares during the last quarter. Aperio Group LLC raised its stake in NN by 40.3% during the 2nd quarter. Aperio Group LLC now owns 32,329 shares of the industrial products company’s stock valued at $316,000 after purchasing an additional 9,281 shares during the last quarter. Bank of New York Mellon Corp raised its stake in NN by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 488,066 shares of the industrial products company’s stock valued at $4,764,000 after purchasing an additional 6,816 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new position in NN during the 2nd quarter valued at $833,000. 93.42% of the stock is owned by institutional investors and hedge funds.

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.

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