StockNews.com Downgrades Nomad Foods (NYSE:NOMD) to Hold

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

NOMD has been the topic of a number of other research reports. Barclays reduced their price target on Nomad Foods from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Nomad Foods from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, August 8th.

Nomad Foods Trading Up 1.7 %

Shares of Nomad Foods stock opened at $17.87 on Thursday. The stock has a 50 day moving average of $18.69 and a 200 day moving average of $18.17. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.73 and a current ratio of 1.17. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 14.89 and a beta of 0.78. Nomad Foods has a fifty-two week low of $13.56 and a fifty-two week high of $20.05.

Nomad Foods (NYSE:NOMD) last announced its earnings results on Wednesday, August 7th. The company reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. The company had revenue of $810.64 million during the quarter, compared to analyst estimates of $822.21 million. Nomad Foods had a net margin of 6.79% and a return on equity of 9.78%. As a group, research analysts predict that Nomad Foods will post 1.96 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Miller Howard Investments Inc. NY raised its position in Nomad Foods by 2.2% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 27,451 shares of the company’s stock worth $452,000 after buying an additional 595 shares during the last quarter. Blue Trust Inc. raised its holdings in Nomad Foods by 133.2% during 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. Allegheny Financial Group LTD lifted its position in Nomad Foods by 4.9% in the second quarter. Allegheny Financial Group LTD now owns 24,336 shares of the company’s stock valued at $401,000 after purchasing an additional 1,128 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in Nomad Foods by 11.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 17,051 shares of the company’s stock valued at $281,000 after purchasing an additional 1,689 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its position in Nomad Foods by 0.9% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 201,285 shares of the company’s stock worth $3,317,000 after purchasing an additional 1,875 shares during the period. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Nomad Foods Company Profile

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.