Zacks Research Upgrades Nomad Foods (NYSE:NOMD) to “Hold”

Nomad Foods (NYSE:NOMD) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

A number of other analysts also recently commented on the company. Barclays reduced their price objective on Nomad Foods from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Tuesday, April 14th. Weiss Ratings upgraded Nomad Foods from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $10.00 price objective (down from $15.00) on shares of Nomad Foods in a research report on Monday, March 30th. Mizuho reduced their price objective on Nomad Foods from $15.00 to $13.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. Finally, BTIG Research reiterated a “buy” rating and issued a $15.00 price objective on shares of Nomad Foods in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

Nomad Foods Price Performance

Shares of NYSE:NOMD opened at $9.77 on Wednesday. The business has a 50 day moving average price of $9.74 and a 200 day moving average price of $11.33. Nomad Foods has a twelve month low of $8.99 and a twelve month high of $18.33. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 9.49 and a beta of 0.69. The company has a quick ratio of 0.66, a current ratio of 1.06 and a debt-to-equity ratio of 0.91.

Nomad Foods (NYSE:NOMD) last announced its earnings results on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.06. Nomad Foods had a return on equity of 9.05% and a net margin of 4.43%.The firm had revenue of $827.87 million during the quarter, compared to the consensus estimate of $804.00 million. During the same quarter in the prior year, the company earned $0.21 EPS. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. Nomad Foods has set its FY 2026 guidance at 1.720-1.900 EPS. Research analysts predict that Nomad Foods will post 1.81 earnings per share for the current year.

Institutional Investors Weigh In On Nomad Foods

Hedge funds and other institutional investors have recently bought and sold shares of the business. WealthCollab LLC increased its holdings in Nomad Foods by 242.0% during the 4th quarter. WealthCollab LLC now owns 2,052 shares of the company’s stock valued at $26,000 after purchasing an additional 1,452 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings 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 purchasing an additional 2,262 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings 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 purchasing an additional 1,996 shares in the last quarter. Osaic Holdings Inc. increased its holdings in Nomad Foods by 87.4% during the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock valued at $45,000 after purchasing an additional 1,240 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new position in shares of Nomad Foods in the 3rd quarter worth $43,000. 75.26% of the stock is owned by institutional investors and hedge funds.

About Nomad Foods

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.