NN, Inc. (NNBR) Receives Consensus Recommendation of “Hold” from Brokerages

NN, Inc. (NASDAQ:NNBR) has received a consensus recommendation of “Hold” from the ten analysts that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $19.00.

Several equities research analysts have recently commented on the stock. BidaskClub downgraded shares of NN from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 19th. Robert W. Baird decreased their target price on shares of NN from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. TheStreet downgraded shares of NN from a “c-” rating to a “d+” rating in a research report on Monday, December 3rd. Zacks Investment Research raised shares of NN from a “sell” rating to a “hold” rating in a research report on Thursday, February 21st. Finally, JPMorgan Chase & Co. assumed coverage on shares of NN in a research report on Monday, January 7th. They set an “overweight” rating and a $15.00 target price for the company.

Shares of NASDAQ:NNBR traded up $0.06 during midday trading on Thursday, hitting $7.81. 6,538 shares of the company’s stock were exchanged, compared to its average volume of 455,566. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.05 and a quick ratio of 1.20. The company has a market cap of $315.36 million, a PE ratio of 6.70 and a beta of 1.34. NN has a 12 month low of $5.55 and a 12 month high of $25.25.

NN (NASDAQ:NNBR) last posted its earnings results on Wednesday, March 13th. The industrial products company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.05). The business had revenue of $199.48 million for the quarter, compared to the consensus estimate of $203.05 million. NN had a positive return on equity of 7.48% and a negative net margin of 34.32%. On average, equities research analysts expect that NN will post 1.15 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in NN in the 3rd quarter worth about $102,000. Legal & General Group Plc grew its position in NN by 69.0% in the 4th quarter. Legal & General Group Plc now owns 7,303 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 2,981 shares in the last quarter. PNC Financial Services Group Inc. grew its position in NN by 11,750.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,584 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 7,520 shares in the last quarter. Citigroup Inc. boosted its stake in NN by 35.0% in the fourth quarter. Citigroup Inc. now owns 9,947 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 2,577 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in NN in the third quarter valued at about $161,000.

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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Analyst Recommendations for NN (NASDAQ:NNBR)

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