Nomad Foods (NYSE:NOMD) Rating Lowered to Strong Sell at Zacks Research

Nomad Foods (NYSE:NOMD) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

Several other research firms have also recently weighed in on NOMD. BTIG Research restated a “buy” rating and issued a $15.00 price target on shares of Nomad Foods in a research note on Friday, August 14th. Barclays increased their price objective on Nomad Foods from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $11.00 target price on shares of Nomad Foods in a research report on Tuesday, July 21st. Finally, Weiss Ratings upgraded shares of Nomad Foods from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 2nd. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $13.25.

Nomad Foods Stock Up 0.5%

Shares of Nomad Foods stock opened at $11.44 on Monday. The company has a 50-day simple moving average of $11.33 and a two-hundred day simple moving average of $10.81. The stock has a market capitalization of $1.60 billion, a PE ratio of 11.21 and a beta of 0.69. Nomad Foods has a 52-week low of $8.99 and a 52-week high of $15.91. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 1.10.

Nomad Foods (NYSE:NOMD) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. The firm had revenue of $825.94 million for the quarter, compared to analysts’ expectations of $825.02 million. Nomad Foods had a net margin of 4.20% and a return on equity of 8.88%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.40 earnings per share. Nomad Foods has set its FY 2026 guidance at 1.604-1.779 EPS. On average, analysts anticipate that Nomad Foods will post 1.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Nomad Foods

Institutional investors and hedge funds have recently modified their holdings of the company. WealthCollab LLC grew its holdings in shares of Nomad Foods by 242.0% in the fourth quarter. WealthCollab LLC now owns 2,052 shares of the company’s stock worth $26,000 after acquiring an additional 1,452 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in Nomad Foods by 3,231.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,332 shares of the company’s stock valued at $29,000 after acquiring an additional 2,262 shares during the period. SBI Securities Co. Ltd. lifted its holdings in Nomad Foods by 469.6% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,421 shares of the company’s stock valued at $30,000 after acquiring an additional 1,996 shares during the period. Osaic Holdings Inc. boosted its position in Nomad Foods by 87.4% in the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock worth $45,000 after purchasing an additional 1,240 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in Nomad Foods in the third quarter worth about $43,000. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

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.