Nomad Foods (NYSE:NOMD) Given New $13.00 Price Target at Mizuho

Nomad Foods (NYSE:NOMD) had its price target dropped by stock analysts at Mizuho from $15.00 to $13.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price objective suggests a potential upside of 21.50% from the stock’s current price.

Several other equities research analysts have also commented on NOMD. Barclays reduced their price target on shares of Nomad Foods from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Monday. Zacks Research raised shares of Nomad Foods from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Nomad Foods in a report on Wednesday, January 28th. 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 research report on Monday. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.67.

Nomad Foods Stock Performance

NOMD stock opened at $10.70 on Tuesday. Nomad Foods has a 1-year low of $10.66 and a 1-year high of $20.81. The business has a 50-day moving average price of $12.33 and a 200 day moving average price of $12.75. The company has a market capitalization of $1.64 billion, a P/E ratio of 10.49 and a beta of 0.74. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.59.

Institutional Trading of Nomad Foods

Hedge funds and other institutional investors have recently made changes to their positions in the business. WealthCollab LLC boosted 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 worth $26,000 after purchasing an additional 1,452 shares in the last quarter. Caitong International Asset Management Co. Ltd raised 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 buying an additional 2,262 shares during the last quarter. SBI Securities Co. Ltd. boosted 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 worth $30,000 after acquiring an additional 1,996 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Nomad Foods during the third quarter worth about $43,000. Finally, Mondrian Investment Partners LTD acquired a new position in shares of Nomad Foods during the third quarter valued at about $44,000. Hedge funds and other institutional investors 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.