Nomad Foods (NYSE:NOMD) Downgraded to Hold Rating by StockNews.com

Nomad Foods (NYSE:NOMD) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

NOMD has been the topic of several other reports. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Nomad Foods from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Monday. Barclays reduced their price target 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.

Nomad Foods Stock Performance

Shares of NYSE:NOMD traded up $0.21 on Thursday, hitting $17.51. 1,074,853 shares of the company were exchanged, compared to its average volume of 581,109. The company’s 50 day moving average price is $18.42 and its two-hundred day moving average price is $18.05. Nomad Foods has a one year low of $14.20 and a one year high of $20.05. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.73 and a current ratio of 1.17. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 12.97 and a beta of 0.79.

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

Institutional Investors Weigh In On Nomad Foods

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. raised its stake in shares of Nomad Foods by 133.2% during the second quarter. Blue Trust Inc. now owns 1,635 shares of the company’s stock worth $27,000 after buying an additional 934 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Nomad Foods during the second quarter worth approximately $42,000. National Bank of Canada FI raised its stake in shares of Nomad Foods by 378.4% during the second quarter. National Bank of Canada FI now owns 2,775 shares of the company’s stock worth $46,000 after buying an additional 2,195 shares during the last quarter. Quarry LP raised its stake in shares of Nomad Foods by 366.5% during the second quarter. Quarry LP now owns 3,004 shares of the company’s stock worth $50,000 after buying an additional 2,360 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of Nomad Foods during the second quarter worth approximately $120,000. 75.26% of the stock is owned by institutional investors.

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.