Nomad Foods (NYSE:NOMD) Upgraded at TheStreet

Nomad Foods (NYSE:NOMD) was upgraded by stock analysts at TheStreet from a “d” rating to a “c” rating in a note issued to investors on Tuesday, October 16th.

A number of other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Nomad Foods from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. Barclays initiated coverage on Nomad Foods in a research note on Friday, October 5th. They issued an “overweight” rating for the company. Credit Suisse Group assumed coverage on Nomad Foods in a research note on Tuesday, July 17th. They issued an “outperform” rating and a $24.00 price target for the company. UBS Group lifted their target price on Nomad Foods from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Finally, Wells Fargo & Co lifted their target price on Nomad Foods from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $22.17.

Shares of NYSE NOMD traded up $0.01 during mid-day trading on Tuesday, reaching $20.51. 1,245,927 shares of the company’s stock were exchanged, compared to its average volume of 1,175,630. The firm has a market cap of $3.36 billion, a P/E ratio of 18.15, a P/E/G ratio of 0.95 and a beta of 0.89. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.36 and a quick ratio of 0.90. Nomad Foods has a twelve month low of $14.32 and a twelve month high of $21.45.

Nomad Foods (NYSE:NOMD) last released its quarterly earnings results on Thursday, November 8th. The company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. The company had revenue of $531.00 million for the quarter, compared to analyst estimates of $514.37 million. Nomad Foods had a return on equity of 10.44% and a net margin of 8.19%. Nomad Foods’s revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 earnings per share. Equities analysts anticipate that Nomad Foods will post 1.34 EPS for the current year.

Large investors have recently added to or reduced their stakes in the stock. Fort L.P. acquired a new position in Nomad Foods in the 2nd quarter valued at $126,000. Toronto Dominion Bank acquired a new position in Nomad Foods in the 2nd quarter valued at $158,000. Sciencast Management LP acquired a new position in Nomad Foods in the 1st quarter valued at $196,000. Carlson Capital Management acquired a new position in Nomad Foods in the 3rd quarter valued at $203,000. Finally, First Mercantile Trust Co. raised its holdings in Nomad Foods by 48.4% in the 2nd quarter. First Mercantile Trust Co. now owns 11,190 shares of the company’s stock valued at $215,000 after acquiring an additional 3,650 shares in the last quarter. 73.16% of the stock is owned by institutional investors and hedge funds.

Nomad Foods Company Profile

Nomad Foods Limited manufactures and distributes frozen foods in Western Europe. The company offers fish products, including fish fingers, coated fish, and natural fish; vegetables, such as peas and spinach; and poultry and meat products comprising nuggets, grills, and burgers. It also provides meals products that include ready to cook noodles, pasta, lasagne, pancakes, and other ready-made meals; and other products, such as soups, pizzas, and bakery goods.

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Analyst Recommendations for Nomad Foods (NYSE:NOMD)

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