NN, Inc. (NNBR) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of NN, Inc. (NASDAQ:NNBR) from a hold rating to a sell rating in a research report report published on Wednesday morning.

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) “

NNBR has been the subject of a number of other reports. TheStreet upgraded NN from a c+ rating to a b rating in a research report on Monday, June 5th. SunTrust Banks, Inc. assumed coverage on NN in a research report on Thursday, June 15th. They set a buy rating and a $37.00 price objective for the company. They noted that the move was a valuation call. ValuEngine upgraded NN from a hold rating to a buy rating in a research report on Friday, June 2nd. Finally, William Blair restated a market perform rating on shares of NN in a research report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $30.67.

NN (NNBR) traded up 1.54% during trading on Wednesday, hitting $29.65. The stock had a trading volume of 50,340 shares. The company has a market cap of $814.34 million, a price-to-earnings ratio of 48.61 and a beta of 0.63. The company has a 50-day moving average of $28.30 and a 200 day moving average of $23.72. NN has a 52 week low of $13.43 and a 52 week high of $31.65.

NN (NASDAQ:NNBR) last issued its quarterly earnings data on Thursday, May 4th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.05. NN had a return on equity of 14.04% and a net margin of 2.00%. The company had revenue of $226.31 million during the quarter, compared to the consensus estimate of $215.86 million. On average, equities research analysts anticipate that NN will post $1.61 EPS for the current year.

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A number of large investors have recently modified their holdings of NNBR. Wells Fargo & Company MN increased its stake in shares of NN by 0.7% in the first quarter. Wells Fargo & Company MN now owns 25,214 shares of the industrial products company’s stock worth $635,000 after buying an additional 176 shares during the last quarter. US Bancorp DE increased its stake in shares of NN by 4.5% in the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock worth $265,000 after buying an additional 457 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of NN by 10.3% in the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock worth $143,000 after buying an additional 530 shares during the last quarter. First Manhattan Co. increased its stake in shares of NN by 0.5% in the first quarter. First Manhattan Co. now owns 209,600 shares of the industrial products company’s stock worth $3,825,000 after buying an additional 950 shares during the last quarter. Finally, American International Group Inc. increased its stake in shares of NN by 7.1% in the first quarter. American International Group Inc. now owns 16,153 shares of the industrial products company’s stock worth $407,000 after buying an additional 1,064 shares during the last quarter. Institutional investors and hedge funds own 95.85% of the company’s stock.

NN Company Profile

NN, Inc is a diversified industrial company and a manufacturer of high precision bearing components, industrial plastic products and precision metal components to a range of markets on a global basis. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group.

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