Nomad Foods’ (NOMD) “Buy” Rating Reaffirmed at BTIG Research

Nomad Foods (NYSE:NOMD)‘s stock had its “buy” rating reaffirmed by analysts at BTIG Research in a note issued to investors on Wednesday,Benzinga reports. They currently have a $15.00 target price on the stock. BTIG Research’s price objective points to a potential upside of 62.78% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Mizuho reduced their price objective on Nomad Foods from $15.00 to $13.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $10.00 price objective (down from $15.00) on shares of Nomad Foods in a research note on Monday, March 30th. Barclays reduced their price objective on Nomad Foods from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 14th. Zacks Research cut Nomad Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Finally, Weiss Ratings upgraded Nomad Foods from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $12.50.

Nomad Foods Stock Down 2.8%

NOMD stock opened at $9.22 on Wednesday. Nomad Foods has a twelve month low of $9.10 and a twelve month high of $18.70. The company has a current ratio of 1.06, a quick ratio of 0.66 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $1.31 billion, a P/E ratio of 8.95 and a beta of 0.69. The firm has a 50 day simple moving average of $9.79 and a 200-day simple moving average of $11.37.

Nomad Foods (NYSE:NOMD) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. Nomad Foods had a net margin of 4.43% and a return on equity of 9.05%. The business had revenue of $827.87 million during the quarter, compared to the consensus estimate of $804.00 million. During the same quarter last year, the company earned $0.21 earnings per share. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. Nomad Foods has set its FY 2026 guidance at 1.720-1.900 EPS. On average, equities research analysts predict that Nomad Foods will post 1.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nomad Foods

Hedge funds have recently added to or reduced their stakes in the stock. WealthCollab LLC lifted its stake in Nomad Foods by 242.0% in the fourth quarter. WealthCollab LLC now owns 2,052 shares of the company’s stock valued at $26,000 after buying an additional 1,452 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake 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 buying an additional 2,262 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake 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 buying an additional 1,996 shares during the last quarter. Osaic Holdings Inc. lifted its stake in Nomad Foods by 87.4% in the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock valued at $45,000 after buying an additional 1,240 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in Nomad Foods in the third quarter valued at $43,000. 75.26% of the stock is currently owned by 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.