BTIG Research Reiterates “Buy” Rating for Nomad Foods (NYSE:NOMD)

Nomad Foods (NYSE:NOMD)‘s stock had its “buy” rating reaffirmed by stock analysts at BTIG Research in a report released on Monday,Benzinga reports. They presently have a $18.00 price target on the stock. BTIG Research’s target price would suggest a potential upside of 50.50% from the stock’s previous close.

A number of other brokerages have also recently commented on NOMD. Mizuho decreased their target price on Nomad Foods from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, August 12th. Barclays reduced their price target on Nomad Foods from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nomad Foods in a research report on Friday, October 31st. Finally, Zacks Research downgraded Nomad Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, September 29th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.67.

Nomad Foods Stock Performance

NOMD opened at $11.96 on Monday. The company’s 50 day moving average is $12.77 and its 200 day moving average is $15.65. The company has a current ratio of 1.02, a quick ratio of 0.63 and a debt-to-equity ratio of 0.81. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 8.19 and a beta of 0.69. Nomad Foods has a 12-month low of $11.04 and a 12-month high of $20.81.

Nomad Foods (NYSE:NOMD) last announced its earnings results on Thursday, November 6th. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The business had revenue of $881.94 million for the quarter, compared to analysts’ expectations of $760.75 million. Nomad Foods had a net margin of 6.93% and a return on equity of 10.26%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. On average, equities research analysts predict that Nomad Foods will post 1.82 EPS for the current year.

Institutional Trading of Nomad Foods

Institutional investors have recently made changes to their positions in the business. Summit Securities Group LLC bought a new position in Nomad Foods in the 1st quarter worth approximately $32,000. Mondrian Investment Partners LTD bought a new stake in shares of Nomad Foods during the third quarter valued at approximately $44,000. Osaic Holdings Inc. lifted its holdings in shares of Nomad Foods by 87.4% in the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock worth $45,000 after buying an additional 1,240 shares in the last quarter. State of Wyoming boosted its position in shares of Nomad Foods by 56.6% during the first quarter. State of Wyoming now owns 9,466 shares of the company’s stock worth $186,000 after acquiring an additional 3,421 shares during the last quarter. Finally, Sciencast Management LP bought a new position in shares of Nomad Foods during the first quarter worth $196,000. Hedge funds and other 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.