BTIG Research Lowers Nomad Foods (NYSE:NOMD) Price Target to $15.00

Nomad Foods (NYSE:NOMD) had its price target cut by BTIG Research from $18.00 to $15.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price objective indicates a potential upside of 36.67% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nomad Foods in a research report on Wednesday, January 28th. Mizuho cut their price target on Nomad Foods from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, January 8th. Finally, Zacks Research raised Nomad Foods from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Nomad Foods Stock Down 2.5%

Shares of Nomad Foods stock opened at $10.98 on Monday. The company has a quick ratio of 0.59, a current ratio of 1.02 and a debt-to-equity ratio of 0.81. Nomad Foods has a 52-week low of $10.66 and a 52-week high of $20.81. The company has a market capitalization of $1.68 billion, a P/E ratio of 10.76 and a beta of 0.74. The company has a 50 day moving average of $12.37 and a 200 day moving average of $12.78.

Institutional Trading of Nomad Foods

A number of large investors have recently bought and sold shares of the business. Boston Partners grew its position in Nomad Foods by 40.3% during the 2nd quarter. Boston Partners now owns 14,323,433 shares of the company’s stock worth $243,276,000 after purchasing an additional 4,114,150 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Nomad Foods by 0.4% during the second quarter. Alliancebernstein L.P. now owns 7,330,537 shares of the company’s stock worth $124,546,000 after buying an additional 27,177 shares during the period. Polaris Capital Management LLC grew its holdings in shares of Nomad Foods by 138.8% during the third quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company’s stock worth $45,261,000 after buying an additional 2,000,400 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Nomad Foods by 1.3% during the fourth quarter. Royce & Associates LP now owns 2,484,858 shares of the company’s stock worth $31,086,000 after buying an additional 33,052 shares during the last quarter. Finally, Ruffer LLP acquired a new position in Nomad Foods in the 4th quarter valued at about $26,823,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

About Nomad Foods

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.