NN (NASDAQ:NNBR) Rating Lowered to Sell at BidaskClub

NN (NASDAQ:NNBR) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report released on Tuesday, BidAskClub reports.

Several other analysts have also commented on the company. William Blair raised NN from a “market perform” rating to an “outperform” rating in a report on Monday, November 11th. ValuEngine raised NN from a “sell” rating to a “hold” rating in a research report on Friday, January 10th. Finally, Zacks Investment Research upgraded NN from a “sell” rating to a “hold” rating in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $9.38.

Shares of NNBR traded up $0.37 on Tuesday, hitting $9.36. 9,190 shares of the stock traded hands, compared to its average volume of 221,648. The company has a market capitalization of $366.55 million, a PE ratio of 8.08 and a beta of 1.82. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.21 and a current ratio of 2.03. The business has a 50 day simple moving average of $8.68 and a 200 day simple moving average of $7.87. NN has a one year low of $5.88 and a one year high of $11.70.

NN (NASDAQ:NNBR) last posted its earnings results on Thursday, November 7th. The industrial products company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). The company had revenue of $213.90 million during the quarter, compared to the consensus estimate of $216.32 million. NN had a positive return on equity of 10.21% and a negative net margin of 29.60%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the firm posted $0.30 EPS. On average, equities analysts expect that NN will post 0.86 earnings per share for the current year.

Several large investors have recently bought and sold shares of NNBR. State Street Corp lifted its position in NN by 0.6% during the third quarter. State Street Corp now owns 1,042,450 shares of the industrial products company’s stock valued at $7,433,000 after purchasing an additional 5,720 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of NN by 15.9% in the third quarter. California Public Employees Retirement System now owns 82,400 shares of the industrial products company’s stock worth $588,000 after buying an additional 11,300 shares during the period. Rhumbline Advisers raised its stake in shares of NN by 9.4% in the third quarter. Rhumbline Advisers now owns 66,496 shares of the industrial products company’s stock worth $474,000 after buying an additional 5,738 shares during the period. Smith Graham & Co. Investment Advisors LP lifted its position in shares of NN by 3.2% during the 3rd quarter. Smith Graham & Co. Investment Advisors LP now owns 1,119,818 shares of the industrial products company’s stock valued at $7,984,000 after buying an additional 34,345 shares in the last quarter. Finally, Primecap Management Co. CA lifted its position in shares of 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 buying an additional 58,900 shares in the last quarter. Hedge funds and other institutional investors own 91.06% 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.

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