Barclays Has Lowered Expectations for Nomad Foods (NYSE:NOMD) Stock Price

Nomad Foods (NYSE:NOMD) had its price target cut by investment analysts at Barclays from $15.00 to $13.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 23.52% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Mizuho decreased their price target on shares of Nomad Foods from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Thursday, January 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nomad Foods in a research report on Wednesday, January 28th. Zacks Research upgraded Nomad Foods from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, BTIG Research dropped their target price on Nomad Foods from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Monday. Three equities 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $13.67.

Nomad Foods Price Performance

Nomad Foods stock opened at $10.53 on Monday. The firm has a fifty day moving average of $12.29 and a 200-day moving average of $12.72. Nomad Foods has a 52-week low of $10.50 and a 52-week high of $20.81. The company has a quick ratio of 0.59, a current ratio of 1.02 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $1.61 billion, a P/E ratio of 10.32 and a beta of 0.74.

Institutional Investors Weigh In On Nomad Foods

A number of hedge funds have recently bought and sold shares of the business. WealthCollab LLC raised its position in shares of Nomad Foods by 242.0% in the 4th quarter. WealthCollab LLC now owns 2,052 shares of the company’s stock valued at $26,000 after purchasing an additional 1,452 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Nomad Foods by 3,231.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,332 shares of the company’s stock worth $29,000 after buying an additional 2,262 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in Nomad Foods by 469.6% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,421 shares of the company’s stock valued at $30,000 after acquiring an additional 1,996 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in Nomad Foods in the third quarter valued at $43,000. Finally, Mondrian Investment Partners LTD bought a new position in Nomad Foods during the 3rd quarter valued at $44,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

Nomad Foods Company Profile

Nomad Foods Limited is a leading frozen foods company headquartered in the United Kingdom, operating under the ticker symbol NOMD on the New York Stock Exchange. The company’s portfolio comprises well-known consumer brands such as Birds Eye, iglo, Findus, Goodfella’s and Aunt Bessie’s, covering a wide range of categories including vegetables, seafood, ready meals, pizzas and desserts. Nomad Foods focuses on delivering convenient, high-quality frozen products designed to meet evolving consumer preferences for taste, nutrition and ease of preparation.

Formed in 2015 through the acquisition of Iglo Group by investment firms Permira and Goldman Sachs Asset Management, Nomad Foods was created with the strategy of building Europe’s largest frozen foods platform.