Author: cpereira@noblefcm.com

AZZ Inc. (AZZ) – AZZ Provides Fiscal Year 2026 Guidance, No Change to Our Estimates

Posted on by cpereira@noblefcm.com


Thursday, February 06, 2025

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

A market leader with a strong growth profile. AZZ is the leading independent provider of hot dip galvanizing and coil coating solutions to a broad range of end markets. We expect AZZ Precoat Metals’ new manufacturing facility in Washington, Missouri to contribute to top-line growth in fiscal year 2026 while capital expenditures decline. Approximately 75% of the facility’s production is already committed and could generate roughly $50 million to $60 million in revenue on an annualized basis once production is fully ramped.

Fiscal 2026 corporate guidance. AZZ Inc. released financial guidance for fiscal year 2026 and expects sales in the range of $1.625 billion to $1.725 billion, adjusted EBITDA in the range of $360 million to $400 million, and adjusted diluted EPS of $5.50 to $6.10. Fiscal year 2026 guidance includes an increase in the Metal Coatings EBITDA margin expectations to a range of 27% to 32% from 25% to 30%, while Precoat Metals EBITDA margin expectations are unchanged at 17% to 22%.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

MAIA Biotechnology (MAIA) – THIO-101 Interim Update Shows Increasing Survival

Posted on by cpereira@noblefcm.com


Wednesday, February 05, 2025

MAIA is a targeted therapy, immuno-oncology company focused on the development and commercialization of potential first-in-class drugs with novel mechanisms of action that are intended to meaningfully improve and extend the lives of people with cancer. Our lead program is THIO, a potential first-in-class cancer telomere targeting agent in clinical development for the treatment of NSCLC patients with telomerase-positive cancer cells. For more information, please visit www.maiabiotech.com.

Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

MAIA Provides Phase 2 Interim Data Update In NSCLC. The Phase 2 THIO-101 trial is testing the combination of THIO with cemiplimab (Libtayo), a PD-1 checkpoint inhibitor from Regeneron, in patients with advanced non-small lung cancer (NSCLC). Median overall survival was 16.9 months, compared with expected survival of 5.8 months. Importantly, the lower limit of the statistical confidence intervals for the trial shows a 99% chance of surviving 10.8 months, a statistically significant result.

Combination Uses Two Mechanisms Of Action. The THIO-101 trial combines the killing effects from THIO with the PD-1 inhibition from cemiplimab. THIO uses its telomere targeting to damage cancer cell DNA, causing cell death. This also stimulates an immune response in the tumor through the cGAS/STING pathway and T-cell responses. Cemiplimab provides a second mechanism, allowing the immune cells to recognize and kill the cancer cells.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

The ODP Corporation (ODP) – Participation in Another New Award

Posted on by cpereira@noblefcm.com


Wednesday, February 05, 2025

Office Depot, Inc., together with its subsidiaries, supplies a range of office products and services. It offers merchandise, such as general office supplies, computer supplies, business machines and related supplies, and office furniture through its chain of office supply stores under the Office Depot, Foray, Ativa, Break Escapes, Worklife, and Christopher Lowell brand names. The company also provides graphic design, printing, reproduction, mailing, shipping, and other services through design, print, and ship centers. It has operations throughout North America, Europe, Asia, and Central America. The company also sells its products and services through direct mail catalogs, contract sales force, Internet sites, and retail stores, through a mix of company-owned operations, joint ventures, licensing and franchise agreements, alliances, and other arrangements. As of December 31, 2008, Office Depot operated 1,267 North American retail division office supply stores and 162 international division retail stores, as well as participated under licensing and merchandise arrangements in 98 stores. The company was founded in 1986 and is based in Boca Raton, Florida.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

New Award. Another in a string of new business, ODP Corporation announced its Business Solutions segment is participating in a new award for a multi-year furniture contract with Region 4 Education Service Center (ESC) that brings the potential of up to $500 million in total annual revenue. After a challenging 2024 for Business Solutions, the new year has started positively with the recent contract awards that have the potential to drive top line growth for the segment.

Details. The new contract enables the ODP Business Solutions Workspace Interiors team to offer compliant cooperative purchasing solutions through OMNIA Partners, providing furniture, installation, and related services to K-12 schools, higher education institutions, and cities and counties across the U.S. The new contract grants OMNIA Partners members access to a comprehensive range of products.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Alliance Resource Partners (ARLP) – Lowering Expectations for 2025; Growth Outlook Remains Favorable

Posted on by cpereira@noblefcm.com


Wednesday, February 05, 2025

ARLP is a diversified natural resource company that generates operating and royalty income from coal produced by its mining complexes and royalty income from mineral interests it owns in strategic oil & gas producing regions in the United States, primarily the Permian, Anadarko and Williston basins. ARLP currently produces coal from seven mining complexes its subsidiaries operate in Illinois, Indiana, Kentucky, Maryland and West Virginia. ARLP also operates a coal loading terminal on the Ohio River at Mount Vernon, Indiana. ARLP markets its coal production to major domestic and international utilities and industrial users and is currently the second largest coal producer in the eastern United States. In addition, ARLP is positioning itself as an energy provider for the future by leveraging its core technology and operating competencies to make strategic investments in the fast growing energy and infrastructure transition.

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Full year and fourth quarter 2024 financial results. On a full year basis, Alliance generated 2024 adjusted EBITDA of $714.2 million and earnings per unit (EPU) of $2.77, respectively, compared to $933.1 million and $4.81 in 2023. Fourth quarter adjusted EBITDA was $124.0 million, and EPU amounted to $0.12, respectively, compared to $185.4 million and $0.88 during the prior year period. Fourth quarter and full year results were impacted by lower coal volumes, operational challenges within ARLP’s coal operations in Appalachia, and a $30.1 million non-cash asset impairment charge which had a negative impact of ~$0.24 per unit.

Management guidance for 2025. Coal sales are expected to be in the range of 32.25 million to 34.25 million tons, while the sales price of coal per ton is expected to be in the range of $57.00 to $61.00. Segmented adjusted EBITDA expense per ton sold is expected to be $40.00 to $44.00. The company has committed and priced 26.0 million tons of its 2025 sales volume, including 23.5 million for the domestic market and 2.5 million tons for the export market.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Euroseas (ESEA) – Updating Estimates Due to Two New Time Charters

Posted on by cpereira@noblefcm.com


Tuesday, February 04, 2025

Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 140 years. Euroseas trades on the NASDAQ Capital Market under the ticker ESEA. Euroseas operates in the container shipping market. Euroseas’ operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements.

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Hans Baldau, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

New time charter contracts. Euroseas executed two new time charter contracts for M/V Synergy Antwerp and M/V Synergy Keelung. The charter contracts are at gross daily rates of $35,500 for a minimum period of 36 months and a maximum period of 39 months at the charterer’s option. Both contracts will take effect at the completion of the vessels’ respective current charters; M/V Synergy Antwerp’s new charter is expected to commence in May 2025, and M/V Synergy Keelung’s new charter is expected to commence in June 2025.

Favorable rates and improved coverage. The new time charters are expected to contribute roughly $57.0 million in EBITDA during the minimum contracted period. The new charters improve the company’s 2025 and 2026 charter coverage to 82% and 45%, respectively. Additionally, Euroseas announced that M/V Synergy Keelung will be retrofitted with energy-saving devices (ESDs) and the upgrade costs will be shared with the charterer.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

FAT Brands (FAT) – Distribution of Twin Hospitality Shares Completed

Posted on by cpereira@noblefcm.com


Friday, January 31, 2025

FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 17 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Distribution. FAT Brands has completed the previously announced distribution of approximately 5.0% of the fully diluted shares of Class A common stock of Twin Hospitality Group Inc. to holders of Class A common stock and Class B common stock of FAT Brands. We believe the distribution of Twin Hospitality will begin to highlight the value of the assets FAT Brands has assembled.

Details. FAT Brands common stockholders received 0.1520207 shares of Twin Hospitality common stock for each share of Class A common stock or Class B common stock of the Company held. In total, FAT Brands distributed 2,659,412 shares of the Twin Hospitality Class A common stock. FAT Brands continues to hold 44,638,859 Class A Twin Hospitality shares and 2,870,000 Class B shares (or 100% of the outstanding B shares).


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Hemisphere Energy (HMENF) – Favorable 2025 Growth Outlook

Posted on by cpereira@noblefcm.com


Thursday, January 30, 2025

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Hans Baldau, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Outlook for 2025. Hemisphere Energy expects 2025 capital expenditures of approximately C$17 million which are expected to support ~15% growth in annual average production to 3,900 barrels of oil equivalent per day (boe/d) compared to 2024. Expenditures will be funded entirely from adjusted funds flow. Most of the capital will be allocated to drilling, optimization, and facility work, with approximately 10% allotted to exploration and land acquisition. Most planned expenditures are scheduled for the third quarter of 2025, providing the company with the flexibility to adjust plans based on changes in commodity prices.

Updating estimates. We have increased our 2024 adjusted funds flow (AFF) and EPS estimates to C$45.4 million and $0.32, respectively, from C$43.5 million and $0.31 to reflect modestly higher operating earnings. AFF and EPS in the fourth quarter are estimated to be C$10.0 million and $0.06, respectively. We have also increased our 2025 AFF and EPS estimates to C$50.6 million and $0.37, respectively, from C$38.0 million and $0.27 to reflect higher average annual production of 3,900 boe/d compared to our prior estimate of 3,625 boe/d. Additionally, we increased our WTI crude oil price assumption to US$72.00 per barrel versus our prior estimate of US$70.00.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Seanergy Maritime (SHIP) – Definitive Agreements to Acquire Two New Vessels

Posted on by cpereira@noblefcm.com


Wednesday, January 29, 2025

Seanergy Maritime Holdings Corp. is a prominent pure-play Capesize shipping company listed in the U.S. capital markets. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. The Company’s operating fleet consists of 18 vessels (1 Newcastlemax and 17 Capesize) with an average age of approximately 13.4 years and an aggregate cargo carrying capacity of approximately 3,236,212 dwt. Upon completion of the delivery of the previously announced Capesize vessel acquisition, the Company’s operating fleet will consist of 19 vessels (1 Newcastlemax and 18 Capesize) with an aggregate cargo carrying capacity of approximately 3,417,608 dwt. The Company is incorporated in the Marshall Islands and has executive offices in Glyfada, Greece. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP”.

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Hans Baldau, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Fleet expansion. Seanergy entered into two definitive agreements, one for purchasing a Newcastlemax vessel and the other for a bareboat charter with a purchase obligation for a Capesize vessel. The total acquisition cost is approximately $69.0 million and will be funded with cash and proceeds from credit facilities. Following the purchases, Seanergy’s fleet will consist of 21 vessels with an aggregate cargo-carrying capacity of 3,803,918 deadweight tons (dwt). Both vessels are expected to be delivered within the first quarter of 2025.

Vessel details. The Newcastlemax vessel, to be named “Meiship”, was built in 2013 and has cargo capacity of 207,851 dwt. The Capesize vessel, to be named “Blueship”, was built in 2011 and has a capacity of 178,459 dwt. Pursuant to a six-month bareboat charter, Seanergy advanced a down payment of $4.0 million and will pay an additional $4.0 million upon delivery of the vessel. Seanergy will pay the owner a daily rate of $9,750 per day during the six-month charter period and earn revenue based on the Baltic Capesize Index (BCI). At the end of the six-month charter period, Seanergy is obligated to purchase the vessel for $22.5 million.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

The ODP Corporation (ODP) – Expanding the Addressable Market

Posted on by cpereira@noblefcm.com


Tuesday, January 28, 2025

Office Depot, Inc., together with its subsidiaries, supplies a range of office products and services. It offers merchandise, such as general office supplies, computer supplies, business machines and related supplies, and office furniture through its chain of office supply stores under the Office Depot, Foray, Ativa, Break Escapes, Worklife, and Christopher Lowell brand names. The company also provides graphic design, printing, reproduction, mailing, shipping, and other services through design, print, and ship centers. It has operations throughout North America, Europe, Asia, and Central America. The company also sells its products and services through direct mail catalogs, contract sales force, Internet sites, and retail stores, through a mix of company-owned operations, joint ventures, licensing and franchise agreements, alliances, and other arrangements. As of December 31, 2008, Office Depot operated 1,267 North American retail division office supply stores and 162 international division retail stores, as well as participated under licensing and merchandise arrangements in 98 stores. The company was founded in 1986 and is based in Boca Raton, Florida.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

A Hospitality Agreement. The ODP Corporation’s Business Solutions segment entered into a key new partnership with one of the world’s largest hotel management organizations, becoming a preferred provider for operating supplies and equipment. We believe expansion into the hospitality market is a strategic step forward for ODP which leverages the Company’s expertise and represents a major inflection point for the Company. In our view, ODP is well positioned to pursue growth in new and growing industry segments.

Details. Under the new agreement, ODP will provide high-quality textiles for bed and bath products. It will also distribute liquid beauty products and lodging kits, all uniquely packaged to accommodate the needs of every client and guest. The expansion of their product portfolio also includes hotel room technology and in-room amenities.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Kratos Defense & Security (KTOS) – Raising Price Target

Posted on by cpereira@noblefcm.com


Tuesday, January 28, 2025

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms, and systems for United States National Security related customers, allies, and commercial enterprises. Kratos is changing the way breakthrough technologies for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research, and streamlined development processes. At Kratos, affordability is a technology, and we specialize in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training and combat systems and next generation turbo jet and turbo fan engine development. For more information go to www.kratosdefense.com.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Raising Price Target. We are maintaining our Outperform rating but raising our price target on KTOS shares to $38 from a prior $30. KTOS shares have performed well since we raised our price target to $30 in mid-November and have spent the last two weeks above our old target. We remain positive on the growth potential for Kratos, both on the defense and commercial sides.

Drivers. We continue to believe KTOS shares benefit from investor belief in the Trump Administration’s determination to increase defense spending and allocate more dollars to areas in Kratos’ wheelhouse, such as unmanned systems, hypersonics, and space. We also expect less friction from a drawn-out continuing resolution.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Bit Digital (BTBT) – Secures New HPC Contract with Anchor Customer

Posted on by cpereira@noblefcm.com


Monday, January 27, 2025

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

New Contract. Last Friday, Bit Digital announced a new agreement with its anchor customer in the GPU Cloud portion of its HPC business. The new 464 Nvidia B200 GPUs contract replaces a prior agreement to provide 2,048 H100 GPUs. The contract represents approximately $15 million of annualized revenue and features a two-month prepayment from the customer. While the new agreement reduces annualized revenue from what the Company anticipated last year (roughly $50 million), management is exploring additional contracts with the customer, which we are hopeful, when combined, will at least rise to the originally expected contract level.

Additional Terms. Under the new agreement, Bit Digital will provide the customer with 58 B200 servers (464 GPUs) for 18 months. Furthermore, the customer may deduct 100% of the service fees from the previously paid $30 million non-refundable deposit. 


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Vince Holding Corp. (VNCE) – Hoffman Returns; Sowing Seeds For Growth

Posted on by cpereira@noblefcm.com


Thursday, January 23, 2025

500 5th Avenue 20th Floor New York, NY 10110 United States Sector(s): Consumer Cyclical Industry: Apparel Manufacturing Full Time Employees: 599 Key Executives Name Title Pay Exercised Year Born Mr. Jonathan CEO & Director 825.62k N/A 1958 Ms. Marie Fogel Senior VP and Chief Merchandising & Manufacturing Officer 633.19k N/A 1961 Mr. John Chief Financial Officer

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Well timed move. P-180, a venture between Christine Hunsicker and former CEO of Vince, Brendan Hoffman, purchased Sun Capital’s 65% majority stake, or 8.4 million shares, for $19.8 million in cash. The transaction also included significant debt paydown and debt forgiveness, highlighted later in this report. We believe that the transaction puts the company into friendly hands and with a stronger balance sheet.

Management shuffle. Brendan Hoffman will reassume his role as CEO on February 3. David Stefko will step down as interim CEO but will continue to serve on the board of directors. Additionally, Matthew Garff, who represented Sun Capital Partners on the board of directors, resigned.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

NN, Inc. (NNBR) – A First Look at 2025

Posted on by cpereira@noblefcm.com


Thursday, January 23, 2025

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Corporate Presentation. Yesterday, NN management presented at an investment conference. Among the topics discussed were the enterprise transformation, tariffs, balance sheet transformation, M&A, and the five-year growth plan. Management also introduced 2025 guidance.

Transformation Plan and Tariffs. The transformation plan continues to move forward. Notably, management indicated that all plants will be profitable in 2025, with a new focus on improving below average performing plants. Management does not expect the proposed Trump tariffs to impact business negatively as the vast majority of products are consumed in the country in which they are produced. Management did note recent inquiries from potential customers seeking capacity to produce products in the U.S. that customers had previously purchased overseas.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.