ValuEngine Lowers Nomad Foods (NYSE:NOMD) to Hold

ValuEngine downgraded shares of Nomad Foods (NYSE:NOMD) from a buy rating to a hold rating in a research note released on Thursday, ValuEngine reports.

A number of other equities research analysts have also issued reports on NOMD. Citigroup initiated coverage on shares of Nomad Foods in a report on Thursday, May 23rd. They set a neutral rating and a $24.00 target price for the company. DA Davidson initiated coverage on shares of Nomad Foods in a report on Wednesday, June 19th. They set a buy rating and a $26.00 target price for the company. TheStreet lowered shares of Nomad Foods from a b- rating to a c+ rating in a report on Tuesday, June 11th. Goldman Sachs Group initiated coverage on shares of Nomad Foods in a report on Wednesday, June 26th. They set a buy rating and a $25.00 target price for the company. Finally, Zacks Investment Research raised shares of Nomad Foods from a sell rating to a hold rating in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Nomad Foods currently has an average rating of Buy and an average target price of $24.17.

NYSE NOMD traded up $0.08 on Thursday, hitting $22.26. The company had a trading volume of 806,126 shares, compared to its average volume of 818,949. The stock has a market capitalization of $4.31 billion, a P/E ratio of 15.79, a PEG ratio of 1.79 and a beta of 0.96. The company’s fifty day moving average price is $21.80. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.76. Nomad Foods has a 12-month low of $15.87 and a 12-month high of $23.06.

Nomad Foods (NYSE:NOMD) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.38 by $0.09. Nomad Foods had a net margin of 5.83% and a return on equity of 9.84%. The company had revenue of $617.80 million during the quarter, compared to analyst estimates of $613.77 million. During the same quarter in the previous year, the firm earned $0.35 EPS. The firm’s revenue was up 14.6% compared to the same quarter last year. As a group, equities research analysts predict that Nomad Foods will post 1.37 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Legal & General Group Plc boosted its position in shares of Nomad Foods by 0.9% during the 4th quarter. Legal & General Group Plc now owns 64,746 shares of the company’s stock valued at $1,083,000 after acquiring an additional 577 shares during the last quarter. Keybank National Association OH lifted its position in Nomad Foods by 3.7% in the second quarter. Keybank National Association OH now owns 17,070 shares of the company’s stock valued at $365,000 after buying an additional 611 shares during the last quarter. Raymond James Trust N.A. lifted its position in Nomad Foods by 4.9% in the second quarter. Raymond James Trust N.A. now owns 14,717 shares of the company’s stock valued at $314,000 after buying an additional 694 shares during the last quarter. First Bank & Trust lifted its position in Nomad Foods by 32.9% in the second quarter. First Bank & Trust now owns 3,882 shares of the company’s stock valued at $83,000 after buying an additional 960 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in Nomad Foods in the second quarter valued at about $29,000. 77.46% of the stock is currently owned by hedge funds and other institutional investors.

Nomad Foods Company Profile

Nomad Foods Limited, together with its subsidiaries, produces, markets, and distributes frozen foods in the United Kingdom, Italy, Germany, Sweden, France, Norway, Austria, Spain, and rest of 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.

See Also: Intrinsic Value

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Analyst Recommendations for Nomad Foods (NYSE:NOMD)

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