Nomad Foods (NYSE:NOMD) Given Buy Rating at BTIG Research

Nomad Foods (NYSE:NOMD)‘s stock had its “buy” rating restated by investment analysts at BTIG Research in a report issued on Thursday, Benzinga reports. They presently have a $15.00 price target on the stock. BTIG Research’s target price would indicate a potential upside of 36.96% from the company’s previous close.

A number of other research firms have also commented on NOMD. Zacks Research lowered Nomad Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, August 17th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $12.00 price objective on shares of Nomad Foods in a research note on Wednesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nomad Foods in a report on Tuesday, September 29th. Finally, Barclays increased 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. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Nomad Foods has a consensus rating of “Hold” and a consensus price target of $13.50.

Nomad Foods Price Performance

Nomad Foods stock traded down $0.05 on Thursday, reaching $10.95. The company’s stock had a trading volume of 731,553 shares, compared to its average volume of 1,603,054. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 1.10. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 10.72 and a beta of 0.75. The business’s fifty day moving average price is $11.35 and its 200 day moving average price is $10.69. Nomad Foods has a twelve month low of $8.99 and a twelve month high of $13.08.

Nomad Foods (NYSE:NOMD) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. The company had revenue of $825.94 million for the quarter, compared to analyst estimates of $825.02 million. Nomad Foods had a return on equity of 8.88% and a net margin of 4.20%.The business’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 earnings per share. Nomad Foods has set its FY 2026 guidance at 1.604-1.779 EPS. Equities analysts expect that Nomad Foods will post 1.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Nomad Foods

In other news, CEO Dominic Brisby purchased 50,000 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were acquired at an average price of $12.38 per share, with a total value of $619,000.00. Following the completion of the purchase, the chief executive officer directly owned 726,794 shares of the company’s stock, valued at $8,997,709.72. The trade was a 7.39% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ruben Baldew purchased 28,290 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were purchased at an average cost of $11.85 per share, for a total transaction of $335,236.50. Following the purchase, the chief financial officer directly owned 367,172 shares of the company’s stock, valued at $4,350,988.20. This trade represents a 8.35% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 17.27% of the company’s stock.

Hedge Funds Weigh In On Nomad Foods

Large investors have recently made changes to their positions in the company. Lombard Odier Asset Management Europe Ltd bought a new stake in Nomad Foods in the fourth quarter valued at about $11,147,000. Invenomic Capital Management LP increased its holdings in Nomad Foods by 75.9% in the fourth quarter. Invenomic Capital Management LP now owns 1,675,263 shares of the company’s stock valued at $20,958,000 after purchasing an additional 722,995 shares during the last quarter. Ancora Advisors LLC bought a new stake in Nomad Foods in the second quarter valued at about $6,465,000. Endure Capital Management LLC bought a new stake in Nomad Foods in the first quarter valued at about $4,236,000. Finally, Sound Income Strategies LLC increased its holdings in shares of Nomad Foods by 102.3% in the first quarter. Sound Income Strategies LLC now owns 676,241 shares of the company’s stock worth $6,472,000 after acquiring an additional 341,964 shares in the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

Nomad Foods Company Profile

Nomad Foods Ltd. is a European food company focused on frozen foods. Its portfolio includes frozen fish, vegetables, poultry, potato products, meals, and desserts sold through grocery retailers and other food channels.

The company markets products under several established brands, including Birds Eye in the United Kingdom and Ireland, iglo in Germany and other European markets, Findus in parts of continental Europe, Aunt Bessie’s in the United Kingdom, and Goodfella’s frozen pizza in selected markets.