Mizuho Raises Nomad Foods (NYSE:NOMD) Price Target to $28.00

Nomad Foods (NYSE:NOMD) had its price objective increased by investment analysts at Mizuho from $26.00 to $28.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Mizuho’s price objective would indicate a potential upside of 47.99% from the stock’s current price.

Separately, Barclays raised their price objective on shares of Nomad Foods from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd.

Nomad Foods Stock Performance

NYSE NOMD opened at $18.92 on Friday. The company has a market cap of $3.08 billion, a P/E ratio of 15.38 and a beta of 0.77. The business’s 50 day moving average price is $18.99 and its 200-day moving average price is $17.51. Nomad Foods has a fifty-two week low of $13.56 and a fifty-two week high of $20.05. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.70 and a current ratio of 1.13.

Nomad Foods (NYSE:NOMD) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $761.00 million for the quarter, compared to analysts’ expectations of $766.56 million. Nomad Foods had a net margin of 6.34% and a return on equity of 10.41%. During the same quarter in the previous year, the business posted $0.34 earnings per share. Sell-side analysts predict that Nomad Foods will post 1.91 earnings per share for the current year.

Institutional Investors Weigh In On Nomad Foods

Large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. grew its stake in Nomad Foods by 16.3% in the first quarter. Russell Investments Group Ltd. now owns 1,377,332 shares of the company’s stock worth $26,941,000 after purchasing an additional 193,531 shares in the last quarter. Allegheny Financial Group LTD grew its holdings in Nomad Foods by 28.3% in the first quarter. Allegheny Financial Group LTD now owns 23,208 shares of the company’s stock worth $454,000 after purchasing an additional 5,121 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Nomad Foods during the first quarter worth $1,334,000. Sciencast Management LP lifted its holdings in shares of Nomad Foods by 12.5% during the 1st quarter. Sciencast Management LP now owns 17,488 shares of the company’s stock valued at $342,000 after purchasing an additional 1,950 shares during the last quarter. Finally, Quantbot Technologies LP grew its position in Nomad Foods by 75.1% during the 1st quarter. Quantbot Technologies LP now owns 45,565 shares of the company’s stock worth $891,000 after purchasing an additional 19,542 shares during the last quarter. 75.26% of the stock is owned by hedge funds and other institutional investors.

About Nomad Foods

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.