ValuEngine Upgrades Nomad Foods (NYSE:NOMD) to Buy

ValuEngine upgraded shares of Nomad Foods (NYSE:NOMD) from a hold rating to a buy rating in a research note published on Friday, February 2nd.

Other equities analysts have also issued research reports about the company. Zacks Investment Research lowered Nomad Foods from a buy rating to a hold rating in a report on Wednesday, January 31st. Berenberg Bank began coverage on Nomad Foods in a report on Thursday, November 16th. They set a buy rating and a $18.00 price target on the stock. Finally, SunTrust Banks raised their price target on Nomad Foods to $20.00 and gave the stock a buy rating in a report on Wednesday, November 29th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $18.25.

Shares of Nomad Foods (NOMD) opened at $17.06 on Friday. The stock has a market capitalization of $2,970.00 and a price-to-earnings ratio of 25.09. The company has a quick ratio of 0.56, a current ratio of 1.03 and a debt-to-equity ratio of 0.77. Nomad Foods has a 52 week low of $10.40 and a 52 week high of $17.32.

Nomad Foods (NYSE:NOMD) last posted its earnings results on Tuesday, November 28th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.23 by $0.06. Nomad Foods had a return on equity of 8.08% and a net margin of 5.60%. analysts anticipate that Nomad Foods will post 1.17 EPS for the current year.

Several hedge funds have recently bought and sold shares of the company. Westwood Holdings Group Inc. lifted its position in shares of Nomad Foods by 227.1% during the 4th quarter. Westwood Holdings Group Inc. now owns 2,187,932 shares of the company’s stock valued at $36,998,000 after acquiring an additional 1,518,985 shares during the period. Macquarie Group Ltd. grew its stake in Nomad Foods by 391.0% in the 4th quarter. Macquarie Group Ltd. now owns 164,000 shares of the company’s stock worth $2,773,000 after acquiring an additional 130,600 shares during the period. Zeke Capital Advisors LLC grew its stake in Nomad Foods by 144.4% in the 4th quarter. Zeke Capital Advisors LLC now owns 109,191 shares of the company’s stock worth $1,846,000 after acquiring an additional 64,522 shares during the period. Raymond James & Associates purchased a new stake in shares of Nomad Foods during the 4th quarter valued at $2,997,000. Finally, Goldentree Asset Management LP purchased a new stake in shares of Nomad Foods during the 4th quarter valued at $15,395,000. Institutional investors own 75.32% of the company’s stock.

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About Nomad Foods

Nomad Foods Limited manufactures and distributes frozen foods primarily in the United Kingdom, Italy, Germany, Sweden, France, and Norway. The company’s frozen food products include fish, vegetables, poultry products, and ready meals. It sells its products directly or through distribution arrangements to supermarkets and large food retail chains under the Birdseye, Findus, and Iglo brands.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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