Nomad Foods’ (NOMD) “Buy” Rating Reaffirmed at BTIG Research

Nomad Foods (NYSE:NOMD)‘s stock had its “buy” rating reissued by research analysts at BTIG Research in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $15.00 price target on the stock. BTIG Research’s price target suggests a potential upside of 62.78% from the company’s current price.

A number of other brokerages have also commented on NOMD. Mizuho lowered their price target on Nomad Foods from $15.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday, March 3rd. Weiss Ratings raised Nomad Foods from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Barclays lowered their price target on Nomad Foods from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, April 14th. Zacks Research lowered Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $10.00 price target (down from $15.00) on shares of Nomad Foods in a report on Monday, March 30th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Nomad Foods presently has an average rating of “Hold” and a consensus price target of $12.50.

Nomad Foods Stock Performance

NOMD stock opened at $9.22 on Wednesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.66 and a current ratio of 1.06. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 8.95 and a beta of 0.69. Nomad Foods has a 1 year low of $9.10 and a 1 year high of $18.70. The stock’s fifty day moving average is $9.79 and its two-hundred day moving average is $11.37.

Nomad Foods (NYSE:NOMD) last posted its earnings results on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. The company had revenue of $827.87 million for the quarter, compared to analysts’ expectations of $804.00 million. Nomad Foods had a return on equity of 9.05% and a net margin of 4.43%.The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period last year, the business posted $0.21 earnings per share. Nomad Foods has set its FY 2026 guidance at 1.720-1.900 EPS. On average, research analysts predict that Nomad Foods will post 1.81 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NOMD. Ruffer LLP acquired a new position in Nomad Foods during the fourth quarter worth about $26,823,000. Lombard Odier Asset Management Europe Ltd acquired a new position in Nomad Foods during the fourth quarter worth about $11,147,000. T. Rowe Price Investment Management Inc. acquired a new position in Nomad Foods during the fourth quarter worth about $10,979,000. Brigade Capital Management LP acquired a new position in Nomad Foods during the fourth quarter worth about $10,946,000. Finally, Balyasny Asset Management L.P. acquired a new position in Nomad Foods during the fourth quarter worth about $9,722,000. 75.26% of the stock is owned by institutional investors and hedge funds.

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.