StockNews.com Begins Coverage on Nomad Foods (NYSE:NOMD)

StockNews.com started coverage on shares of Nomad Foods (NYSE:NOMD – Get Rating) in a research note released on Thursday morning. The firm issued a hold rating on the stock.

Several other research firms have also issued reports on NOMD. Credit Suisse Group reissued a neutral rating and issued a $20.00 price target on shares of Nomad Foods in a research report on Monday, February 27th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Nomad Foods from $24.00 to $21.00 and set a buy rating on the stock in a research note on Friday, February 24th. Finally, The Goldman Sachs Group raised shares of Nomad Foods from a neutral rating to a buy rating and set a $21.00 price target on the stock in a research note on Sunday, February 26th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $23.86.

Nomad Foods Stock Down 1.2 %

NOMD stock opened at $17.89 on Thursday. The company has a 50-day moving average of $17.57 and a two-hundred day moving average of $16.64. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 11.93 and a beta of 0.74. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.19 and a quick ratio of 0.70. Nomad Foods has a 52-week low of $12.50 and a 52-week high of $23.57.

Nomad Foods (NYSE:NOMD – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Nomad Foods had a net margin of 8.49% and a return on equity of 11.77%. The company had revenue of $766.03 million for the quarter, compared to analyst estimates of $788.13 million. As a group, equities research analysts anticipate that Nomad Foods will post 1.62 EPS for the current year.

Institutional Investors Weigh In On Nomad Foods

A number of hedge funds and other institutional investors have recently made changes to their positions in NOMD. Lazard Asset Management LLC increased its stake in Nomad Foods by 117.5% in the 4th quarter. Lazard Asset Management LLC now owns 1,897 shares of the company’s stock valued at $32,000 after buying an additional 1,025 shares during the last quarter. Portland Investment Counsel Inc. boosted its holdings in shares of Nomad Foods by 0.7% during the 3rd quarter. Portland Investment Counsel Inc. now owns 183,478 shares of the company’s stock worth $2,605,000 after buying an additional 1,242 shares during the period. Brown Brothers Harriman & Co. bought a new stake in shares of Nomad Foods during the 2nd quarter worth about $25,000. Ossiam boosted its holdings in shares of Nomad Foods by 3.7% during the 2nd quarter. Ossiam now owns 37,170 shares of the company’s stock worth $743,000 after buying an additional 1,338 shares during the period. Finally, State of Wyoming boosted its holdings in shares of Nomad Foods by 18.0% during the 4th quarter. State of Wyoming now owns 9,221 shares of the company’s stock worth $159,000 after buying an additional 1,404 shares during the period. 78.54% of the stock is currently owned by institutional investors and hedge funds.

About Nomad Foods

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Nomad Foods Ltd. operates as a holding company, which manufactures and sells frozen foods for human consumption. The firm offers its products under the brands LUTOSA, la Cocinera, Birds Eye, Iglo, and Findus. The company was founded by Noam Gottesman and Sir Martin E. Franklin on April 1, 2014 and is headquartered in Middlesex, the United Kingdom.