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

Shares of Nomad Foods Limited (NYSE:NOMD) have received an average recommendation of “Buy” from the nine research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $32.33.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley increased its stake in Nomad Foods by 0.4% in the third quarter. Morgan Stanley now owns 125,907 shares of the company’s stock valued at $3,470,000 after acquiring an additional 454 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Nomad Foods by 8.7% during the second quarter. O Shaughnessy Asset Management LLC now owns 7,034 shares of the company’s stock valued at $199,000 after buying an additional 565 shares during the last quarter. First Bank & Trust grew its stake in shares of Nomad Foods by 12.2% during the second quarter. First Bank & Trust now owns 5,844 shares of the company’s stock valued at $165,000 after buying an additional 634 shares during the last quarter. Cooper Financial Group grew its stake in shares of Nomad Foods by 7.8% during the third quarter. Cooper Financial Group now owns 9,837 shares of the company’s stock valued at $271,000 after buying an additional 714 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Nomad Foods by 32.1% during the third quarter. PNC Financial Services Group Inc. now owns 3,614 shares of the company’s stock valued at $101,000 after buying an additional 879 shares during the last quarter. 78.69% of the stock is currently owned by institutional investors and hedge funds.

NOMD stock opened at $26.54 on Wednesday. The firm has a market cap of $4.57 billion, a PE ratio of 18.96 and a beta of 0.67. The company has a quick ratio of 0.52, a current ratio of 0.99 and a debt-to-equity ratio of 0.94. The business has a 50 day moving average of $24.94 and a 200-day moving average of $26.52. Nomad Foods has a 12-month low of $23.18 and a 12-month high of $31.85.

Nomad Foods (NYSE:NOMD) last released its earnings results on Thursday, November 4th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.04. Nomad Foods had a return on equity of 13.03% and a net margin of 8.24%. The company had revenue of $599.40 million during the quarter, compared to analyst estimates of $596.27 million. During the same period in the prior year, the company posted $0.35 earnings per share. Nomad Foods’s quarterly revenue was up 4.0% on a year-over-year basis. On average, research analysts expect that Nomad Foods will post 1.78 earnings per share for the current year.

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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