Zacks Downgrades NN to Neutral (NNBR)
NN (NASDAQ:NNBR) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report released on Tuesday, American Banking and Market News reports. They currently have a $17.20 target price on the stock. Zacks‘ price target indicates a potential upside of 10.75% from the stock’s previous close.
NN (NASDAQ:NNBR) traded down 1.03% on Tuesday, hitting $15.37. The stock had a trading volume of 89,763 shares. NN has a one year low of $6.90 and a one year high of $16.03. The stock has a 50-day moving average of $14.8 and a 200-day moving average of $11.50. The company has a market cap of $265.5 million and a price-to-earnings ratio of 13.99.
NN (NASDAQ:NNBR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. The company had revenue of $96.30 million for the quarter, compared to the consensus estimate of $93.79 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was down 2.5% on a year-over-year basis.
Separately, analysts at KeyCorp raised their price target on shares of NN from $14.00 to $17.00 in a research note to investors on Thursday, August 22nd. They now have a “buy” rating on the stock.
NN, Inc (NASDAQ:NNBR) is a manufacturer of precision balls, cylindrical and tapered rollers, bearing retainers, plastic injection molded products, precision bearing seals and precision metal components.
To view Zacks’ full report, visit www.zacks.com
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