Nomad Foods (NYSE:NOMD) Upgraded to “Buy” at StockNews.com

Nomad Foods (NYSE:NOMD) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Separately, Deutsche Bank Aktiengesellschaft dropped their price objective on Nomad Foods from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Monday, November 4th.

Nomad Foods Price Performance

Nomad Foods stock opened at $16.83 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.72. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 12.63 and a beta of 0.79. The firm has a 50-day moving average of $18.08 and a two-hundred day moving average of $17.96. Nomad Foods has a 1 year low of $15.76 and a 1 year high of $20.05.

Hedge Funds Weigh In On Nomad Foods

A number of large investors have recently bought and sold shares of the business. Blue Trust Inc. raised its holdings in Nomad Foods by 133.2% in the second quarter. Blue Trust Inc. now owns 1,635 shares of the company’s stock worth $27,000 after purchasing an additional 934 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Nomad Foods by 61.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,100 shares of the company’s stock worth $40,000 after acquiring an additional 800 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Nomad Foods during the second quarter valued at approximately $42,000. National Bank of Canada FI lifted its position in Nomad Foods by 378.4% during the second quarter. National Bank of Canada FI now owns 2,775 shares of the company’s stock valued at $46,000 after acquiring an additional 2,195 shares during the last quarter. Finally, Quarry LP boosted its stake in Nomad Foods by 366.5% in the second quarter. Quarry LP now owns 3,004 shares of the company’s stock valued at $50,000 after acquiring an additional 2,360 shares in the last quarter. Institutional investors own 75.26% of the company’s stock.

About Nomad Foods

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.