Brokerages Set Nomad Foods Limited (NYSE:NOMD) Target Price at $19.75

Shares of Nomad Foods Limited (NYSE:NOMD) have been assigned an average rating of “Moderate Buy” from the six analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $19.75.

Several equities analysts have recently commented on the company. BTIG Research reduced their target price on Nomad Foods from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, September 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nomad Foods in a research note on Wednesday, October 8th. Mizuho reduced their target price on Nomad Foods from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, August 12th. Zacks Research cut Nomad Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, September 29th. Finally, Barclays reduced their target price on Nomad Foods from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, August 8th.

Hedge Funds Weigh In On Nomad Foods

Several institutional investors and hedge funds have recently made changes to their positions in NOMD. Boston Partners boosted its stake in shares of Nomad Foods by 40.3% during the 2nd quarter. Boston Partners now owns 14,323,433 shares of the company’s stock valued at $243,276,000 after buying an additional 4,114,150 shares during the last quarter. Polaris Capital Management LLC lifted its stake in Nomad Foods by 138.8% during the third quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company’s stock worth $45,261,000 after purchasing an additional 2,000,400 shares during the last quarter. Norges Bank bought a new position in Nomad Foods during the second quarter worth $15,603,000. Qube Research & Technologies Ltd lifted its stake in Nomad Foods by 164.1% during the second quarter. Qube Research & Technologies Ltd now owns 1,195,533 shares of the company’s stock worth $20,312,000 after purchasing an additional 742,813 shares during the last quarter. Finally, Perpetual Ltd lifted its stake in Nomad Foods by 115.6% during the third quarter. Perpetual Ltd now owns 1,181,555 shares of the company’s stock worth $15,537,000 after purchasing an additional 633,650 shares during the last quarter. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

Nomad Foods Stock Down 0.5%

Shares of NYSE:NOMD opened at $11.79 on Friday. The company has a quick ratio of 0.63, a current ratio of 1.02 and a debt-to-equity ratio of 0.81. Nomad Foods has a 52-week low of $11.64 and a 52-week high of $20.81. The company has a 50 day moving average of $13.55 and a two-hundred day moving average of $16.23. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 8.07 and a beta of 0.70.

Nomad Foods (NYSE:NOMD) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. Nomad Foods had a net margin of 6.93% and a return on equity of 10.26%. The company had revenue of $879.27 million during the quarter, compared to the consensus estimate of $762.81 million. During the same quarter last year, the company earned $0.44 earnings per share. Nomad Foods’s revenue for the quarter was down .8% on a year-over-year basis. As a group, analysts forecast that Nomad Foods will post 1.82 earnings per share for the current fiscal year.

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.