Nomad Foods (NYSE:NOMD) Rating Lowered to Strong Sell at Zacks Research

Nomad Foods (NYSE:NOMD) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

NOMD has been the subject of several other reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $11.00 price objective on shares of Nomad Foods in a research report on Tuesday, July 21st. Weiss Ratings raised shares of Nomad Foods from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 2nd. Barclays lifted their price target on shares of Nomad Foods from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Finally, BTIG Research reissued a “buy” rating and issued a $15.00 price objective on shares of Nomad Foods in a research note on Friday, August 14th. Three 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 MarketBeat.com, Nomad Foods currently has an average rating of “Hold” and a consensus price target of $13.25.

Nomad Foods Stock Up 0.5%

NYSE:NOMD opened at $11.44 on Monday. Nomad Foods has a twelve month low of $8.99 and a twelve month high of $15.91. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 11.21 and a beta of 0.69. The stock has a fifty day simple moving average of $11.33 and a 200-day simple moving average of $10.81. The company has a current ratio of 1.10, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90.

Nomad Foods (NYSE:NOMD) last issued its earnings results on Thursday, August 13th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. The firm had revenue of $825.94 million during 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 business’s revenue was down 3.1% on a year-over-year basis. During the same period 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. Analysts anticipate that Nomad Foods will post 1.69 EPS for the current year.

Institutional Investors Weigh In On Nomad Foods

Several large investors have recently modified their holdings of NOMD. Alliancebernstein L.P. raised its holdings in shares of Nomad Foods by 0.4% in the 2nd quarter. Alliancebernstein L.P. now owns 7,330,537 shares of the company’s stock valued at $124,546,000 after purchasing an additional 27,177 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Nomad Foods by 6.0% during the first quarter. Renaissance Technologies LLC now owns 3,024,282 shares of the company’s stock valued at $29,063,000 after purchasing an additional 172,215 shares in the last quarter. Royce & Associates LP increased its holdings in Nomad Foods by 1.3% during the fourth quarter. Royce & Associates LP now owns 2,484,858 shares of the company’s stock valued at $31,086,000 after buying an additional 33,052 shares during the period. Ruffer LLP purchased a new position in Nomad Foods during the fourth quarter valued at approximately $26,823,000. Finally, Loomis Sayles & Co. L P raised its stake in Nomad Foods by 2.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,856,727 shares of the company’s stock worth $23,228,000 after buying an additional 48,060 shares in the last quarter. Institutional investors own 75.26% of the company’s stock.

Nomad Foods Company Profile

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.