Nomad Foods (NYSE:NOMD) Raised to Hold at Zacks Research

Nomad Foods (NYSE:NOMD) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on NOMD. Barclays cut their target price on shares of Nomad Foods from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $10.00 price objective (down from $15.00) on shares of Nomad Foods in a research report on Monday, March 30th. Mizuho cut their price objective on shares of Nomad Foods from $15.00 to $13.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. BTIG Research reissued a “buy” rating and issued a $15.00 price objective on shares of Nomad Foods in a research report on Wednesday. Finally, Weiss Ratings raised shares of Nomad Foods from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $12.50.

Nomad Foods Stock Performance

Shares of NOMD opened at $9.77 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.66 and a debt-to-equity ratio of 0.91. The stock has a market cap of $1.39 billion, a P/E ratio of 9.49 and a beta of 0.69. The company has a 50-day moving average of $9.74 and a two-hundred day moving average of $11.33. Nomad Foods has a 12-month low of $8.99 and a 12-month high of $18.33.

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

Hedge Funds Weigh In On Nomad Foods

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC grew its stake in Nomad Foods by 1.9% during the second quarter. Tidal Investments LLC now owns 38,037 shares of the company’s stock worth $646,000 after buying an additional 726 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in Nomad Foods by 3.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 30,987 shares of the company’s stock valued at $407,000 after buying an additional 939 shares during the period. California Public Employees Retirement System increased its stake in Nomad Foods by 0.4% during the 2nd quarter. California Public Employees Retirement System now owns 268,627 shares of the company’s stock valued at $4,564,000 after buying an additional 1,044 shares during the period. Entropy Technologies LP increased its stake in Nomad Foods by 1.7% during the 1st quarter. Entropy Technologies LP now owns 71,479 shares of the company’s stock valued at $687,000 after buying an additional 1,188 shares during the period. Finally, Osaic Holdings Inc. increased its stake in Nomad Foods by 87.4% during the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock valued at $45,000 after buying an additional 1,240 shares during the period. Institutional investors and hedge funds own 75.26% of the company’s stock.

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.