Barclays Lowers Nomad Foods (NYSE:NOMD) Price Target to $18.00

Key Points

• Barclays has lowered its price target for Nomad Foods from $20.00 to $18.00, maintaining an "overweight" rating that suggests a potential upside of 12.54% from the current stock price.
• Other analysts, including Wall Street Zen and Mizuho, have also adjusted their ratings and price targets for Nomad Foods, with Wall Street Zen reducing its rating to "hold" and Mizuho lowering its target from $26.00 to $23.00.
• Nomad Foods reported earnings of $0.45 per share for the last quarter, which beat analysts' expectations and included revenue of $879.27 million, higher than the forecasted $762.81 million.

Nomad Foods (NYSE:NOMD - Get Free Report) had its price target lowered by Barclays from $20.00 to $18.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price target points to a potential upside of 18.15% from the company's current price.

Other research analysts also recently issued research reports about the stock. Mizuho cut their target price on shares of Nomad Foods from $26.00 to $23.00 and set an "outperform" rating for the company in a research note on Monday, July 28th. Wall Street Zen downgraded shares of Nomad Foods from a "buy" rating to a "hold" rating in a research note on Friday, May 9th.

Nomad Foods Stock Performance

Shares of NOMD traded down $0.12 during mid-day trading on Friday, reaching $15.24. 608,937 shares of the company's stock were exchanged, compared to its average volume of 822,514. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.63. The stock has a market capitalization of $2.34 billion, a PE ratio of 10.44 and a beta of 0.72. The business's fifty day simple moving average is $17.16 and its 200-day simple moving average is $18.26. Nomad Foods has a 52-week low of $14.87 and a 52-week high of $20.81.

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

Hedge Funds Weigh In On Nomad Foods

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vontobel Holding Ltd. increased its position in Nomad Foods by 3.5% in the second quarter. Vontobel Holding Ltd. now owns 20,417 shares of the company's stock worth $347,000 after buying an additional 688 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Nomad Foods by 2.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,048 shares of the company's stock worth $511,000 after buying an additional 690 shares during the period. Legal & General Group Plc increased its position in Nomad Foods by 3.3% in the fourth quarter. Legal & General Group Plc now owns 25,392 shares of the company's stock worth $426,000 after buying an additional 800 shares during the period. Factorial Partners LLC increased its holdings in shares of Nomad Foods by 0.5% during the first quarter. Factorial Partners LLC now owns 192,100 shares of the company's stock valued at $3,775,000 after purchasing an additional 1,000 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Nomad Foods by 1.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,320 shares of the company's stock valued at $1,650,000 after purchasing an additional 1,270 shares during the period. 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.