Nomad Foods (NYSE:NOMD) Downgraded by StockNews.com to “Hold”

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

Several other research firms have also commented on NOMD. Barclays lowered their price objective on shares of Nomad Foods from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft upped their price objective on Nomad Foods from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, August 8th.

Nomad Foods Price Performance

NOMD traded down $0.49 during trading on Tuesday, reaching $18.57. 534,007 shares of the company traded hands, compared to its average volume of 603,485. Nomad Foods has a 12-month low of $13.56 and a 12-month high of $20.05. The firm has a fifty day simple moving average of $18.78 and a 200 day simple moving average of $18.30. 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 company has a market cap of $3.03 billion, a P/E ratio of 15.48 and a beta of 0.78.

Nomad Foods (NYSE:NOMD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. The business had revenue of $810.64 million for the quarter, compared to analysts’ expectations of $822.21 million. Nomad Foods had a net margin of 6.79% and a return on equity of 9.78%. On average, equities analysts forecast that Nomad Foods will post 1.96 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NOMD. Blue Trust Inc. lifted 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 buying an additional 934 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Nomad Foods during the 2nd quarter worth $42,000. National Bank of Canada FI boosted 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 purchasing an additional 2,195 shares in the last quarter. Quarry LP grew 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 purchasing an additional 2,360 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in Nomad Foods in the second quarter worth about $120,000. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

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.