Nomad Foods (NYSE:NOMD) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Nomad Foods (NYSE:NOMD) from a sell rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

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. “

A number of other equities analysts have also commented on the company. ValuEngine lowered Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. DA Davidson began coverage on Nomad Foods in a research note on Wednesday, June 19th. They issued a buy rating and a $26.00 price objective on the stock. TheStreet lowered Twin Disc from a b- rating to a c+ rating in a research note on Tuesday, June 11th. Goldman Sachs Group began coverage on Tricida in a research note on Wednesday, June 26th. They issued a buy rating and a $48.00 price objective on the stock. Finally, Citigroup lowered Barrick Gold to a neutral rating in a research note on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $24.14.

Shares of NOMD stock opened at $22.51 on Wednesday. The company’s 50-day moving average price is $21.22. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 1.81 and a beta of 0.96. Nomad Foods has a 12 month low of $15.87 and a 12 month high of $22.67.

Nomad Foods (NYSE:NOMD) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.09. The company had revenue of $617.80 million for the quarter, compared to analyst estimates of $613.77 million. Nomad Foods had a return on equity of 9.84% and a net margin of 5.83%. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 earnings per share. As a group, analysts forecast that Nomad Foods will post 1.38 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Boston Partners lifted its stake in Nomad Foods by 0.4% in the first quarter. Boston Partners now owns 11,882,549 shares of the company’s stock valued at $242,998,000 after buying an additional 51,946 shares during the period. Investec Asset Management LTD lifted its stake in Nomad Foods by 3.2% in the first quarter. Investec Asset Management LTD now owns 6,369,447 shares of the company’s stock valued at $130,255,000 after buying an additional 195,408 shares during the period. Victory Capital Management Inc. lifted its stake in Nomad Foods by 11.0% in the first quarter. Victory Capital Management Inc. now owns 4,137,034 shares of the company’s stock valued at $84,601,000 after buying an additional 410,823 shares during the period. Wells Fargo & Company MN lifted its stake in Nomad Foods by 11.2% in the first quarter. Wells Fargo & Company MN now owns 3,988,190 shares of the company’s stock valued at $81,558,000 after buying an additional 401,486 shares during the period. Finally, Samlyn Capital LLC acquired a new position in Nomad Foods in the fourth quarter valued at approximately $60,166,000. 77.55% of the stock is currently owned by hedge funds and other institutional investors.

Nomad Foods Company Profile

Nomad Foods Limited, together with its subsidiaries, produces, markets, and distributes frozen foods in the United Kingdom, Italy, Germany, Sweden, France, Norway, Austria, Spain, and rest of Europe. The company offers fish products, including fish fingers, coated fish, and natural fish; vegetables, such as peas and spinach; and poultry and meat products comprising nuggets, grills, and burgers.

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