Analysts Set Nomad Foods Limited (NYSE:NOMD) PT at $32.33

Shares of Nomad Foods Limited (NYSE:NOMD) have earned a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $32.33.

Several analysts have recently weighed in on NOMD shares. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Nomad Foods from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, October 21st. The Goldman Sachs Group downgraded shares of Nomad Foods from a “buy” rating to a “neutral” rating and reduced their price target for the company from $36.00 to $29.00 in a research report on Thursday, November 4th. Zacks Investment Research downgraded shares of Nomad Foods from a “hold” rating to a “sell” rating in a research report on Wednesday, January 5th. TheStreet downgraded shares of Nomad Foods from a “b-” rating to a “c+” rating in a research report on Monday, November 8th. Finally, Citigroup began coverage on shares of Nomad Foods in a research report on Wednesday, October 6th. They issued a “buy” rating and a $34.00 price target for the company.

Shares of NYSE:NOMD opened at $26.54 on Wednesday. The company has a market capitalization of $4.57 billion, a PE ratio of 18.96 and a beta of 0.67. The company has a current ratio of 0.99, a quick ratio of 0.52 and a debt-to-equity ratio of 0.94. Nomad Foods has a twelve month low of $23.18 and a twelve month high of $31.85. The firm has a 50 day simple moving average of $24.94 and a 200-day simple moving average of $26.52.

Nomad Foods (NYSE:NOMD) last issued its quarterly earnings data on Thursday, November 4th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.04. The business had revenue of $599.40 million during the quarter, compared to the consensus estimate of $596.27 million. Nomad Foods had a net margin of 8.24% and a return on equity of 13.03%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 EPS. As a group, equities research analysts predict that Nomad Foods will post 1.78 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC acquired a new position in shares of Nomad Foods during the 2nd quarter worth $28,000. Herold Advisors Inc. acquired a new stake in Nomad Foods in the 3rd quarter valued at about $82,000. Picton Mahoney Asset Management acquired a new stake in Nomad Foods in the 2nd quarter valued at about $85,000. PNC Financial Services Group Inc. lifted its holdings in Nomad Foods by 32.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,614 shares of the company’s stock valued at $101,000 after purchasing an additional 879 shares in the last quarter. Finally, First Bank & Trust lifted its holdings in Nomad Foods by 12.2% in the 2nd quarter. First Bank & Trust now owns 5,844 shares of the company’s stock valued at $165,000 after purchasing an additional 634 shares in the last quarter. Institutional investors own 78.69% of the company’s stock.

About Nomad Foods

Nomad Foods Ltd. operates as a holding company, which manufactures and sells frozen foods for human consumption. It offers its products under the brands LUTOSA, la Cocinera, Birds Eye, Iglo, and Findus. The company was founded by Noam Gottesman and Sir Martin E. Franklin in April 2014 and is headquartered in Middlesex, the United Kingdom.

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Analyst Recommendations for Nomad Foods (NYSE:NOMD)

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