Nomad Foods (NYSE:NOMD) shares downgraded by StockNews.com

Nomad Foods (NYSE:NOMD – Get Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Sunday.

Several other brokerages have recently weighed in on NOMD. Deutsche Bank Aktiengesellschaft raised their target price 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. Mizuho raised their target price on shares of Nomad Foods from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Barclays cut their target price on shares of Nomad Foods from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Friday, July 19th.

Get the latest analysis on NOMD

Nomad Foods trading up 1.1%

Shares of Nomad Foods stock opened at $18.80 on Friday. The company’s fifty-day simple moving average is $17.84, and its 200-day simple moving average is $18.24. The stock has a market cap of $3.06 billion, a PE ratio of 15.67 and a beta of 0.79. Nomad Foods has a 1 year low of $13.56 and a 1 year high of $20.05. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.14, and a quick ratio of 0.73.

Nomad Foods (NYSE:NOMD – Get Free Report ) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. The business had revenue of $810.64 million for the quarter, compared to analysts’ expectations of $822.21 million. Nomad Foods had a net margin of 6.10% and a return on equity of 9.68%. As a group, equities analysts anticipate that Nomad Foods will post 1.9 earnings per share for the current year.

Institutional nomadic food trade

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Aristides Capital LLC bought a new stake in Nomad Foods in the second quarter valued at $231,000. Point72 Asset Management LP boosted its holdings in Nomad Foods by 424.7% in the second quarter. Point72 Asset Management LP now owns 33,055 shares of the company’s stock valued at $545,000 after acquiring an additional 26,755 shares in the last quarter. Quarry LP boosted its holdings in Nomad Foods by 366.5% in the second quarter. Quarry LP now owns 3,004 shares of the company’s stock valued at $50,000 after acquiring an additional 2,360 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Nomad Foods in the second quarter valued at $703,000. Finally, Marshall Wace LLP bought a new stake in shares of Nomad Foods in the second quarter valued at about $313,000. 75.26% of shares are currently owned by institutional investors.

About Nomad Foods

(Get a free report)

Nomad Foods Limited, together with its subsidiaries, manufactures, markets and distributes a range of frozen food products in the UK 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 meat and poultry products including nuggets, grills and burgers.

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