Nomad Foods (NOMD) Upgraded by Zacks Investment Research to Buy
Nomad Foods (NYSE:NOMD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday. The firm currently has a $18.00 target price on the stock. Zacks Investment Research‘s price target points to a potential upside of 8.30% from the company’s current price.
According to Zacks, “Nomad Foods Ltd. manufactures and distributes frozen foods primarily in the United Kingdom, Italy, Germany, Sweden, France and Norway. The Company’s portfolio of frozen food brands includes Birds Eye, Iglo and Findus. Nomad Foods Ltd. is headquartered in Feltham, the United Kingdom. “
NOMD has been the subject of several other reports. Berenberg Bank assumed coverage on Nomad Foods in a research note on Thursday, November 16th. They set a “buy” rating and a $18.00 price objective for the company. ValuEngine upgraded Nomad Foods from a “hold” rating to a “buy” rating in a research note on Thursday, November 16th. Finally, SunTrust Banks increased their price objective on Nomad Foods to $20.00 and gave the stock a “buy” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average price target of $17.20.
Nomad Foods (NYSE NOMD) opened at $16.62 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.68 and a current ratio of 1.09. Nomad Foods has a 12 month low of $9.00 and a 12 month high of $16.90. The stock has a market capitalization of $2,850.00 and a price-to-earnings ratio of 17.13.
Large investors have recently made changes to their positions in the company. Capital Fund Management S.A. acquired a new stake in shares of Nomad Foods in the second quarter valued at $145,000. Empirical Finance LLC acquired a new stake in shares of Nomad Foods in the third quarter valued at $152,000. Jane Street Group LLC acquired a new stake in shares of Nomad Foods in the third quarter valued at $168,000. Stevens Capital Management LP acquired a new stake in shares of Nomad Foods in the third quarter valued at $174,000. Finally, Balter Liquid Alternatives LLC acquired a new stake in shares of Nomad Foods in the second quarter valued at $172,000. Institutional investors own 72.83% 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 companys 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.
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