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

Nomad Foods (NYSE:NOMD) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

Other equities analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft boosted their price target on Nomad Foods from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Barclays lowered their price objective 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.

Nomad Foods Stock Up 0.2 %

NOMD opened at $17.56 on Friday. The business has a 50 day moving average of $18.59 and a 200-day moving average of $18.12. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 13.01 and a beta of 0.78. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.80. Nomad Foods has a 1-year low of $13.59 and a 1-year high of $20.05.

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

Hedge Funds Weigh In On Nomad Foods

Several hedge funds and other institutional investors have recently modified their holdings of NOMD. Mutual of America Capital Management LLC bought a new stake in Nomad Foods during the first quarter worth about $3,645,000. Swedbank AB bought a new stake in Nomad Foods during the 1st quarter worth approximately $10,425,000. Russell Investments Group Ltd. increased its holdings in Nomad Foods by 16.3% during the 1st quarter. Russell Investments Group Ltd. now owns 1,377,332 shares of the company’s stock valued at $26,941,000 after purchasing an additional 193,531 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Nomad Foods by 123.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 548,738 shares of the company’s stock valued at $9,043,000 after purchasing an additional 302,913 shares during the last quarter. Finally, Capstone Investment Advisors LLC bought a new position in Nomad Foods in the 1st quarter valued at $1,398,000. Institutional investors own 75.26% of the company’s stock.

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.