Nomad Foods (NYSE:NOMD) Downgraded by StockNews.com to “Hold”

Nomad Foods (NYSE:NOMD) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Several other equities analysts have also recently commented on NOMD. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Barclays decreased their price target on shares of Nomad Foods from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, July 19th.

Nomad Foods Price Performance

Shares of NYSE NOMD opened at $17.46 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.73 and a current ratio of 1.17. Nomad Foods has a fifty-two week low of $14.54 and a fifty-two week high of $20.05. The stock has a market cap of $2.85 billion, a PE ratio of 12.93 and a beta of 0.79. The stock has a fifty day moving average of $18.39 and a 200-day moving average of $18.04.

Nomad Foods (NYSE:NOMD) last posted its earnings results on Wednesday, August 7th. The company reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. Nomad Foods had a return on equity of 9.78% and a net margin of 6.79%. The business had revenue of $810.64 million during the quarter, compared to analyst estimates of $822.21 million. Equities research analysts anticipate that Nomad Foods will post 1.93 earnings per share for the current year.

Institutional Trading of Nomad Foods

Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. lifted its position in Nomad Foods by 133.2% in the 2nd quarter. Blue Trust Inc. now owns 1,635 shares of the company’s stock worth $27,000 after buying an additional 934 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Nomad Foods in the 2nd quarter valued at $42,000. National Bank of Canada FI grew its holdings in shares of Nomad Foods by 378.4% during the 2nd quarter. National Bank of Canada FI now owns 2,775 shares of the company’s stock valued at $46,000 after purchasing an additional 2,195 shares during the last quarter. Quarry LP raised its position in Nomad Foods by 366.5% in the 2nd quarter. Quarry LP now owns 3,004 shares of the company’s stock worth $50,000 after purchasing an additional 2,360 shares during the period. Finally, Avior Wealth Management LLC lifted its stake in Nomad Foods by 25.8% in the third quarter. Avior Wealth Management LLC now owns 3,920 shares of the company’s stock worth $75,000 after purchasing an additional 804 shares during the last quarter. 75.26% of the stock is owned by 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.