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

Nomad Foods (NYSE:NOMD) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

A number of other research analysts have also weighed in on the stock. 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. Barclays cut their price objective on shares of Nomad Foods from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, July 19th.

Nomad Foods Trading Down 0.2 %

Shares of NOMD stock opened at $17.99 on Wednesday. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 14.99 and a beta of 0.78. 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 50-day simple moving average of $18.81 and a two-hundred day simple moving average of $18.24. Nomad Foods has a 52-week low of $13.56 and a 52-week high of $20.05.

Nomad Foods (NYSE:NOMD) last issued its earnings results on Wednesday, August 7th. The company reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. The company 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%. Research analysts anticipate that Nomad Foods will post 1.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its position in shares of Nomad Foods by 133.2% in the second quarter. Blue Trust Inc. now owns 1,635 shares of the company’s stock valued at $27,000 after acquiring an additional 934 shares during the period. Headlands Technologies LLC bought a new stake in shares of Nomad Foods during the second quarter worth approximately $42,000. National Bank of Canada FI increased its stake in Nomad Foods by 378.4% in 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 increased its stake in Nomad Foods by 366.5% during the 2nd quarter. Quarry LP now owns 3,004 shares of the company’s stock worth $50,000 after purchasing an additional 2,360 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Nomad Foods in the 2nd quarter valued at about $120,000. Institutional investors and hedge funds 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.