Nomad Foods (NYSE:NOMD) Downgraded to “Hold” at StockNews.com

Nomad Foods (NYSE:NOMD) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

A number of other brokerages have also recently weighed in on NOMD. Barclays dropped their price objective on shares of Nomad Foods from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Nomad Foods from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th.

Nomad Foods Stock Down 0.5 %

NYSE:NOMD opened at $18.47 on Tuesday. Nomad Foods has a 52 week low of $13.56 and a 52 week high of $20.05. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 0.80. The stock’s fifty day moving average is $18.79 and its two-hundred day moving average is $18.29. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 15.39 and a beta of 0.78.

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

Institutional Investors Weigh In On Nomad Foods

A number of hedge funds and other institutional investors have recently modified their holdings of NOMD. Miller Howard Investments Inc. NY increased its holdings in Nomad Foods by 2.2% in the second quarter. Miller Howard Investments Inc. NY now owns 27,451 shares of the company’s stock valued at $452,000 after buying an additional 595 shares during the last quarter. Blue Trust Inc. raised its position in shares of Nomad Foods by 133.2% during the 2nd quarter. Blue Trust Inc. now owns 1,635 shares of the company’s stock worth $27,000 after acquiring an additional 934 shares in the last quarter. Allegheny Financial Group LTD lifted its stake in Nomad Foods by 4.9% during the second quarter. Allegheny Financial Group LTD now owns 24,336 shares of the company’s stock worth $401,000 after purchasing an additional 1,128 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Nomad Foods by 11.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 17,051 shares of the company’s stock valued at $281,000 after purchasing an additional 1,689 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in Nomad Foods by 0.9% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 201,285 shares of the company’s stock valued at $3,317,000 after purchasing an additional 1,875 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

About Nomad Foods

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.