Nomad Foods' (NOMD) "Hold (C)" Rating Reiterated at Weiss Ratings

Key Points

• Nomad Foods' stock rating has been reiterated as "hold (c)" by Weiss Ratings, while analysts from Barclays and Zacks have adjusted their target prices and ratings on the stock.
• The company’s shares have recently traded at $12.70, down 0.4%, with a one-year trading range between $12.56 and $20.81.
• Nomad Foods reported earnings of $0.45 per share for the last quarter, exceeding analysts’ expectations, but faced a 0.8% decline in revenue compared to the previous year.

Nomad Foods (NYSE:NOMD - Get Free Report)'s stock had its "hold (c)" rating reissued by analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

NOMD has been the topic of a number of other reports. Barclays dropped their target price on shares of Nomad Foods from $20.00 to $18.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Zacks Research downgraded shares of Nomad Foods from a "hold" rating to a "strong sell" rating in a research report on Monday, September 29th. BTIG Research lowered their price objective on shares of Nomad Foods from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, September 17th. Finally, Mizuho lowered their price objective on shares of Nomad Foods from $23.00 to $20.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $19.75.

Nomad Foods Stock Down 0.4%

Shares of NYSE:NOMD traded down $0.06 during trading hours on Wednesday, reaching $12.70. The stock had a trading volume of 123,555 shares, compared to its average volume of 980,533. Nomad Foods has a 1 year low of $12.56 and a 1 year high of $20.81. The firm's 50 day moving average is $14.58 and its 200-day moving average is $16.97. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.63 and a current ratio of 1.02. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 8.70 and a beta of 0.70.

Nomad Foods (NYSE:NOMD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.01. The company had revenue of $879.27 million for the quarter, compared to the consensus estimate of $762.81 million. Nomad Foods had a net margin of 6.93% and a return on equity of 10.26%. The company's quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 EPS. Research analysts predict that Nomad Foods will post 1.82 earnings per share for the current fiscal year.

Institutional Trading of Nomad Foods

Several hedge funds have recently made changes to their positions in the company. Boston Partners lifted its stake in shares of Nomad Foods by 40.3% in the 2nd quarter. Boston Partners now owns 14,323,433 shares of the company's stock worth $243,276,000 after acquiring an additional 4,114,150 shares during the period. Brown Advisory Inc. lifted its stake in shares of Nomad Foods by 0.8% in the first quarter. Brown Advisory Inc. now owns 8,442,222 shares of the company's stock valued at $165,890,000 after purchasing an additional 66,060 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Nomad Foods by 0.4% in the second quarter. Alliancebernstein L.P. now owns 7,330,537 shares of the company's stock valued at $124,546,000 after purchasing an additional 27,177 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Nomad Foods by 3.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 6,824,222 shares of the company's stock valued at $134,096,000 after purchasing an additional 254,314 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Nomad Foods by 17.3% in the first quarter. Victory Capital Management Inc. now owns 2,724,866 shares of the company's stock valued at $53,544,000 after purchasing an additional 402,599 shares during the period. 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.

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