Nomad Foods (NYSE:NOMD) Stock Rating Lowered by StockNews.com

Nomad Foods (NYSE:NOMD) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

NOMD has been the topic of several other reports. Barclays dropped their price objective on shares of Nomad Foods from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Nomad Foods from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, August 8th.

Nomad Foods Stock Performance

NYSE NOMD opened at $18.02 on Thursday. The firm has a market capitalization of $2.94 billion, a P/E ratio of 15.02 and a beta of 0.78. The firm’s fifty day moving average price is $18.65 and its two-hundred day moving average price is $18.15. Nomad Foods has a 1 year low of $13.56 and a 1 year high of $20.05. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.80.

Nomad Foods (NYSE:NOMD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $810.64 million for the quarter, compared to analyst estimates of $822.21 million. Nomad Foods had a net margin of 6.79% and a return on equity of 9.78%. As a group, research analysts anticipate that Nomad Foods will post 1.96 EPS for the current year.

Hedge Funds Weigh In On Nomad Foods

Several institutional investors and hedge funds have recently modified their holdings of NOMD. Quadrature Capital Ltd acquired a new position in shares of Nomad Foods in the fourth quarter valued at about $291,000. Miller Howard Investments Inc. NY acquired a new stake in Nomad Foods during the first quarter worth about $525,000. Atlas Capital Advisors LLC acquired a new stake in Nomad Foods during the first quarter worth about $201,000. Applied Fundamental Research LLC grew its stake in Nomad Foods by 6.0% during the first quarter. Applied Fundamental Research LLC now owns 843,305 shares of the company’s stock worth $16,495,000 after buying an additional 47,476 shares in the last quarter. Finally, Oak Ridge Investments LLC grew its stake in Nomad Foods by 8.0% during the first quarter. Oak Ridge Investments LLC now owns 305,432 shares of the company’s stock worth $5,974,000 after buying an additional 22,730 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Nomad Foods Company Profile

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.