NN (NASDAQ:NNBR) Coverage Initiated at Noble Financial

Analysts at Noble Financial assumed coverage on shares of NN (NASDAQ:NNBR) in a research report issued on Monday, Marketbeat.com reports. The firm set an “outperform” rating and a $6.00 price target on the industrial products company’s stock. Noble Financial’s target price would suggest a potential upside of 57.48% from the stock’s current price.

Several other brokerages have also recently commented on NNBR. StockNews.com upgraded shares of NN from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. TheStreet upgraded shares of NN from a “d” rating to a “c-” rating in a research note on Wednesday, February 14th.

NN Trading Down 0.8 %

NASDAQ NNBR opened at $3.81 on Monday. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.24 and a quick ratio of 1.36. The firm’s fifty day moving average price is $4.65 and its 200 day moving average price is $3.55. The company has a market capitalization of $188.75 million, a price-to-earnings ratio of -2.82 and a beta of 3.02. NN has a 12 month low of $0.97 and a 12 month high of $5.40.

NN (NASDAQ:NNBR) last issued its quarterly earnings results on Monday, March 11th. The industrial products company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The business had revenue of $112.53 million for the quarter, compared to analyst estimates of $116.00 million. NN had a negative return on equity of 9.19% and a negative net margin of 10.25%. On average, sell-side analysts expect that NN will post -0.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NNBR. Bank of America Corp DE increased its stake in shares of NN by 4.9% in the first quarter. Bank of America Corp DE now owns 152,372 shares of the industrial products company’s stock worth $438,000 after buying an additional 7,122 shares during the last quarter. BlackRock Inc. increased its stake in shares of NN by 0.9% in the second quarter. BlackRock Inc. now owns 768,966 shares of the industrial products company’s stock worth $1,838,000 after buying an additional 7,205 shares during the last quarter. LPL Financial LLC bought a new stake in shares of NN in the second quarter worth $28,000. Price T Rowe Associates Inc. MD increased its stake in shares of NN by 27.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 67,320 shares of the industrial products company’s stock worth $116,000 after buying an additional 14,400 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of NN by 703.0% in the fourth quarter. Barclays PLC now owns 17,071 shares of the industrial products company’s stock worth $68,000 after buying an additional 14,945 shares during the last quarter. 53.92% of the stock is owned by institutional investors and hedge funds.

About NN

NN, Inc, together with its subsidiaries, designs, manufactures, and sells high-precision components and assemblies for various end markets in the United States and internationally. It operates through two segments, Mobile Solutions and Power Solutions. The Mobile Solutions segment manufactures and sells system critical components for automotive, general industrial, and medical end markets for use in power steering, braking, transmissions, gasoline fuel system, diesel injection, and diesel emissions treatment applications, as well as in heating, ventilation, and air conditioning.