Nomad Foods (NYSE:NOMD) Raised to Hold at Zacks Research

Nomad Foods (NYSE:NOMD) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Weiss Ratings upgraded shares of Nomad Foods from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. BTIG Research restated a “buy” rating and set a $15.00 price objective on shares of Nomad Foods in a research report on Wednesday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $10.00 price objective (down from $15.00) on shares of Nomad Foods in a research report on Monday, March 30th. Barclays decreased their target price on shares of Nomad Foods from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday, April 14th. Finally, Mizuho decreased their target price on shares of Nomad Foods from $15.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday, March 3rd. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Nomad Foods presently has an average rating of “Moderate Buy” and a consensus target price of $12.50.

Nomad Foods Stock Performance

NYSE:NOMD opened at $9.77 on Wednesday. Nomad Foods has a twelve month low of $8.99 and a twelve month high of $18.33. The company has a current ratio of 1.06, a quick ratio of 0.66 and a debt-to-equity ratio of 0.91. The company has a 50-day moving average of $9.74 and a 200-day moving average of $11.33. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 9.49 and a beta of 0.69.

Nomad Foods (NYSE:NOMD) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.06. Nomad Foods had a net margin of 4.43% and a return on equity of 9.05%. The company had revenue of $827.87 million during the quarter, compared to analyst estimates of $804.00 million. During the same quarter last year, the firm posted $0.21 EPS. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. Nomad Foods has set its FY 2026 guidance at 1.720-1.900 EPS. Analysts forecast that Nomad Foods will post 1.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Atlantic Investment Management Inc. acquired a new stake in shares of Nomad Foods during the third quarter worth approximately $9,494,000. American Assets Inc. acquired a new stake in shares of Nomad Foods during the third quarter worth approximately $526,000. Invenomic Capital Management LP boosted its holdings in shares of Nomad Foods by 144.2% during the third quarter. Invenomic Capital Management LP now owns 952,268 shares of the company’s stock worth $12,522,000 after purchasing an additional 562,304 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of Nomad Foods by 64.2% during the fourth quarter. Sound Income Strategies LLC now owns 334,277 shares of the company’s stock worth $3,894,000 after purchasing an additional 130,637 shares during the period. Finally, Doma Perpetual Capital Management LLC acquired a new stake in shares of Nomad Foods during the third quarter worth approximately $2,164,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

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.