Nomad Foods' (NOMD) Buy Rating Reiterated at BTIG Research

Key Points

• BTIG Research reiterated its “buy” rating on Nomad Foods and set a $15 price target, implying 36.29% upside from the stock’s $11.01 opening price.
• Analyst sentiment is mixed: Nomad Foods has a consensus “hold” rating and average target price of $13.50, with three buy, two hold, and one sell rating.
• The company exceeded quarterly earnings expectations, reporting $0.45 EPS versus $0.37 expected, while CEO Dominic Brisby and CFO Ruben Baldew recently increased their holdings through stock purchases.

Nomad Foods (NYSE:NOMD - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at BTIG Research in a research report issued on Thursday, Benzinga reports. They presently have a $15.00 target price on the stock. BTIG Research's price target would indicate a potential upside of 36.29% from the stock's current price.

A number of other research analysts have also weighed in on NOMD. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $12.00 price objective on shares of Nomad Foods in a report on Wednesday. Zacks Research cut Nomad Foods from a "hold" rating to a "strong sell" rating in a report on Monday, August 17th. Barclays upped their price target on Nomad Foods from $12.00 to $14.00 and gave the stock an "overweight" rating in a report on Monday, July 20th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Nomad Foods in a report on Tuesday, September 29th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Nomad Foods has a consensus rating of "Hold" and a consensus target price of $13.50.

Nomad Foods Stock Performance

Shares of NOMD stock opened at $11.01 on Thursday. The stock has a market capitalization of $1.54 billion, a PE ratio of 10.79 and a beta of 0.75. Nomad Foods has a 52-week low of $8.99 and a 52-week high of $13.08. The stock's 50-day moving average price is $11.35 and its 200 day moving average price is $10.69. The company has a quick ratio of 0.66, a current ratio of 1.10 and a debt-to-equity ratio of 0.90.

Nomad Foods (NYSE:NOMD - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.08. Nomad Foods had a return on equity of 8.88% and a net margin of 4.20%.The company had revenue of $825.94 million for the quarter, compared to analysts' expectations of $825.02 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The firm's quarterly revenue was down 3.1% on a year-over-year basis. Nomad Foods has set its FY 2026 guidance at 1.604-1.779 EPS. As a group, equities research analysts forecast that Nomad Foods will post 1.63 EPS for the current year.

Insider Buying and Selling

In related news, CEO Dominic Brisby bought 50,000 shares of the stock in a transaction on Monday, August 24th. The shares were purchased at an average price of $12.38 per share, for a total transaction of $619,000.00. Following the acquisition, the chief executive officer owned 726,794 shares in the company, valued at $8,997,709.72. This represents a 7.39% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Ruben Baldew bought 28,290 shares of the stock in a transaction on Wednesday, August 19th. The shares were bought at an average price of $11.85 per share, for a total transaction of $335,236.50. Following the acquisition, the chief financial officer owned 367,172 shares in the company, valued at $4,350,988.20. The trade was a 8.35% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 17.27% of the company's stock.

Institutional Investors Weigh In On Nomad Foods

Large investors have recently bought and sold shares of the stock. Entropy Technologies LP raised its holdings in shares of Nomad Foods by 1.7% during the first quarter. Entropy Technologies LP now owns 71,479 shares of the company's stock worth $687,000 after purchasing an additional 1,188 shares during the period. DGS Capital Management LLC boosted its stake in Nomad Foods by 17.8% in the fourth quarter. DGS Capital Management LLC now owns 14,839 shares of the company's stock valued at $186,000 after acquiring an additional 2,243 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in 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 valued at $29,000 after acquiring an additional 2,262 shares during the period. R Squared Ltd boosted its stake in Nomad Foods by 7.4% in the first quarter. R Squared Ltd now owns 33,400 shares of the company's stock valued at $321,000 after acquiring an additional 2,296 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Nomad Foods by 219.6% in the first quarter. EverSource Wealth Advisors LLC now owns 7,773 shares of the company's stock valued at $75,000 after acquiring an additional 5,341 shares during the period. Institutional investors and hedge funds own 75.26% of the company's stock.

Nomad Foods Company Profile

Nomad Foods Ltd. is a European food company focused on frozen foods. Its portfolio includes frozen fish, vegetables, poultry, potato products, meals, and desserts sold through grocery retailers and other food channels.

The company markets products under several established brands, including Birds Eye in the United Kingdom and Ireland, iglo in Germany and other European markets, Findus in parts of continental Europe, Aunt Bessie's in the United Kingdom, and Goodfella's frozen pizza in selected markets.