Nomad Foods’ (NOMD) Hold Rating Reiterated at Deutsche Bank Aktiengesellschaft

Nomad Foods (NYSE:NOMD)‘s stock had its “hold” rating reaffirmed by equities researchers at Deutsche Bank Aktiengesellschaft in a research report issued on Monday, MarketBeat.com reports. They currently have a $10.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 2.51% from the company’s previous close.

Several other research firms also recently weighed in on NOMD. Barclays dropped their target price on shares of Nomad Foods from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. Mizuho reduced their price target on shares of Nomad Foods from $15.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday, March 3rd. Weiss Ratings lowered shares of Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. BTIG Research dropped their price objective on shares of Nomad Foods from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Finally, Zacks Research downgraded Nomad Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Nomad Foods has an average rating of “Hold” and an average price target of $12.75.

Nomad Foods Trading Up 0.2%

NYSE:NOMD opened at $9.76 on Monday. Nomad Foods has a 52-week low of $9.46 and a 52-week high of $20.29. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.90. The stock has a fifty day simple moving average of $11.49 and a 200-day simple moving average of $12.06. The company has a market capitalization of $1.39 billion, a PE ratio of 9.56 and a beta of 0.74.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NOMD. Ruffer LLP acquired a new stake in shares of Nomad Foods during the 4th quarter worth about $26,823,000. Polaris Capital Management LLC raised its position in shares of Nomad Foods by 138.8% in the third quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company’s stock valued at $45,261,000 after buying an additional 2,000,400 shares during the last quarter. Norges Bank acquired a new position in shares of Nomad Foods in the second quarter valued at approximately $15,603,000. Lombard Odier Asset Management Europe Ltd purchased a new position in shares of Nomad Foods during the fourth quarter valued at approximately $11,147,000. Finally, T. Rowe Price Investment Management Inc. purchased a new position in shares of Nomad Foods during the fourth quarter valued at approximately $10,979,000. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

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.