Nomad Foods Ltd (NOMD) Given Average Rating of “Buy” by Brokerages

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Shares of Nomad Foods Ltd (NYSE:NOMD) have earned a consensus rating of “Buy” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $22.00.

A number of equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Nomad Foods from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. TheStreet raised shares of Nomad Foods from a “d” rating to a “c” rating in a research note on Tuesday, October 16th. Credit Suisse Group started coverage on shares of Nomad Foods in a research note on Tuesday, July 17th. They issued an “outperform” rating and a $24.00 price objective on the stock. Barclays started coverage on shares of Nomad Foods in a report on Friday, October 5th. They issued an “overweight” rating on the stock. Finally, UBS Group upped their target price on shares of Nomad Foods from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, August 10th.

NYSE NOMD traded up $0.49 during trading hours on Thursday, reaching $19.59. The company’s stock had a trading volume of 71,321 shares, compared to its average volume of 1,164,986. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 0.93 and a beta of 0.70. Nomad Foods has a fifty-two week low of $14.32 and a fifty-two week high of $21.15. The company has a current ratio of 1.36, a quick ratio of 0.90 and a debt-to-equity ratio of 0.90.

Nomad Foods (NYSE:NOMD) last issued its quarterly earnings data on Thursday, August 9th. The company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.04. The firm had revenue of $488.20 million for the quarter, compared to analysts’ expectations of $482.81 million. Nomad Foods had a net margin of 8.19% and a return on equity of 10.44%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.23 EPS. As a group, research analysts expect that Nomad Foods will post 1.35 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its holdings in Nomad Foods by 4.5% in the 2nd quarter. Janus Henderson Group PLC now owns 4,436,024 shares of the company’s stock valued at $85,127,000 after purchasing an additional 192,754 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in Nomad Foods by 90.4% in the 2nd quarter. Macquarie Group Ltd. now owns 329,479 shares of the company’s stock valued at $6,323,000 after purchasing an additional 156,464 shares in the last quarter. Gabelli Funds LLC lifted its holdings in Nomad Foods by 50.0% in the 2nd quarter. Gabelli Funds LLC now owns 18,000 shares of the company’s stock valued at $345,000 after purchasing an additional 6,000 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Nomad Foods in the 2nd quarter valued at about $1,482,000. Finally, Sei Investments Co. purchased a new position in Nomad Foods in the 2nd quarter valued at about $327,000. Institutional investors own 73.18% of the company’s stock.

About Nomad Foods

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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