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

Nomad Foods (NYSE:NOMD)‘s stock had its “buy” rating reaffirmed by analysts at BTIG Research in a report released on Thursday, Benzinga reports. They presently have a $15.00 target price on the stock. BTIG Research’s price target would indicate a potential upside of 35.81% from the stock’s previous close.

A number of other research firms also recently commented on NOMD. Zacks Research downgraded Nomad Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nomad Foods in a research note on Tuesday, September 29th. 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. Finally, Barclays raised their target price on shares of Nomad Foods from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Nomad Foods has an average rating of “Hold” and an average target price of $13.50.

Nomad Foods Price Performance

Shares of NYSE NOMD traded up $0.05 during midday trading on Thursday, hitting $11.05. The company had a trading volume of 1,728,114 shares, compared to its average volume of 1,608,933. The company has a quick ratio of 0.66, a current ratio of 1.10 and a debt-to-equity ratio of 0.90. Nomad Foods has a twelve month low of $8.99 and a twelve month high of $13.08. The business has a 50-day simple moving average of $11.33 and a two-hundred day simple moving average of $10.70. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 10.83 and a beta of 0.75.

Nomad Foods (NYSE:NOMD) last issued its earnings results on Thursday, August 13th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate 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 net margin of 4.20% and a return on equity of 8.88%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 earnings per share. Nomad Foods has set its FY 2026 guidance at 1.604-1.779 EPS. Equities research analysts anticipate that Nomad Foods will post 1.63 earnings per share for the current year.

Insider Transactions at Nomad Foods

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its holdings in shares of Nomad Foods by 6.0% during the 1st quarter. Renaissance Technologies LLC now owns 3,024,282 shares of the company’s stock worth $29,063,000 after acquiring an additional 172,215 shares during the period. Invenomic Capital Management LP grew 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 period. Arrowstreet Capital Limited Partnership increased its position in Nomad Foods by 7.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,782,238 shares of the company’s stock worth $17,127,000 after purchasing an additional 116,647 shares during the last quarter. Systematic Financial Management LP increased its position in Nomad Foods by 7.8% during the first quarter. Systematic Financial Management LP now owns 1,728,211 shares of the company’s stock worth $16,608,000 after purchasing an additional 124,389 shares during the last quarter. Finally, Congress Asset Management Co. raised its stake in Nomad Foods by 21.7% during the third quarter. Congress Asset Management Co. now owns 1,531,380 shares of the company’s stock worth $15,819,000 after purchasing an additional 272,805 shares during the period. 75.26% of the stock is currently owned by institutional investors and hedge funds.

About Nomad Foods

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.