Zacks Research Downgrades Nomad Foods (NYSE:NOMD) to Strong Sell

Nomad Foods (NYSE:NOMD) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

A number of other analysts have also commented on the company. BTIG Research reaffirmed a “buy” rating and issued a $15.00 price target on shares of Nomad Foods in a research note on Friday, August 14th. Barclays lifted their price objective on Nomad Foods from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Weiss Ratings upgraded Nomad Foods from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $11.00 price target on shares of Nomad Foods in a research report on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Nomad Foods has a consensus rating of “Hold” and a consensus target price of $13.25.

Nomad Foods Trading Up 0.5%

Shares of NOMD opened at $11.44 on Monday. The stock has a market capitalization of $1.60 billion, a P/E ratio of 11.21 and a beta of 0.69. Nomad Foods has a twelve month low of $8.99 and a twelve month high of $15.91. The company has a quick ratio of 0.66, a current ratio of 1.10 and a debt-to-equity ratio of 0.90. The firm has a fifty day simple moving average of $11.33 and a two-hundred day simple moving average of $10.81.

Nomad Foods (NYSE:NOMD) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.37 by $0.08. The firm had revenue of $825.94 million during the quarter, compared to the consensus estimate of $825.02 million. Nomad Foods had a net margin of 4.20% and a return on equity of 8.88%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 earnings per share. Nomad Foods has set its FY 2026 guidance at 1.604-1.779 EPS. On average, research analysts anticipate that Nomad Foods will post 1.69 EPS for the current year.

Hedge Funds Weigh In On Nomad Foods

A number of institutional investors and hedge funds have recently made changes to their positions in the business. WealthCollab LLC boosted its position in shares of Nomad Foods by 242.0% in the 4th quarter. WealthCollab LLC now owns 2,052 shares of the company’s stock worth $26,000 after purchasing an additional 1,452 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in Nomad Foods by 3,231.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,332 shares of the company’s stock valued at $29,000 after buying an additional 2,262 shares in the last quarter. SBI Securities Co. Ltd. increased its position in Nomad Foods by 469.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,421 shares of the company’s stock valued at $30,000 after buying an additional 1,996 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in Nomad Foods during the third quarter valued at $43,000. Finally, Osaic Holdings Inc. raised its stake in Nomad Foods by 87.4% during the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock valued at $45,000 after buying an additional 1,240 shares during the last quarter. Institutional investors own 75.26% of the company’s stock.

Nomad Foods Company Profile

Nomad Foods Limited is a leading frozen foods company headquartered in the United Kingdom, operating under the ticker symbol NOMD on the New York Stock Exchange. The company’s portfolio comprises well-known consumer brands such as Birds Eye, iglo, Findus, Goodfella’s and Aunt Bessie’s, covering a wide range of categories including vegetables, seafood, ready meals, pizzas and desserts. Nomad Foods focuses on delivering convenient, high-quality frozen products designed to meet evolving consumer preferences for taste, nutrition and ease of preparation.

Formed in 2015 through the acquisition of Iglo Group by investment firms Permira and Goldman Sachs Asset Management, Nomad Foods was created with the strategy of building Europe’s largest frozen foods platform.