BTIG Research Reaffirms Buy Rating for Nomad Foods (NYSE:NOMD)

Nomad Foods (NYSE:NOMD)‘s stock had its “buy” rating restated by investment analysts at BTIG Research in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $15.00 price objective on the stock. BTIG Research’s price target indicates a potential upside of 36.74% from the company’s previous close.

Several other equities analysts have also weighed in on NOMD. Weiss Ratings restated a “hold (c-)” rating on shares of Nomad Foods in a report on Tuesday, September 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $12.00 target price on shares of Nomad Foods in a report on Wednesday. Zacks Research lowered Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. Finally, Barclays raised their target price on Nomad Foods from $12.00 to $14.00 and gave the company an “overweight” rating in a 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 given a Sell rating to the stock. Based on data from MarketBeat, Nomad Foods has an average rating of “Hold” and a consensus price target of $13.50.

Nomad Foods Stock Down 0.3%

Shares of NYSE NOMD traded down $0.03 during mid-day trading on Thursday, reaching $10.97. The company had a trading volume of 1,104,682 shares, compared to its average volume of 1,605,593. Nomad Foods has a twelve month low of $8.99 and a twelve month high of $13.08. 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 stock has a market capitalization of $1.53 billion, a PE ratio of 10.76 and a beta of 0.75. The stock’s 50 day moving average is $11.35 and its 200-day moving average is $10.69.

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

Insider Transactions at Nomad Foods

In related news, CEO Dominic Brisby acquired 50,000 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was acquired at an average price of $12.38 per share, with a total value of $619,000.00. Following the completion of the transaction, 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. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Ruben Baldew acquired 28,290 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 367,172 shares of the company’s stock, valued at $4,350,988.20. The trade was a 8.35% increase in their position. The disclosure for this purchase is available in the SEC filing. 17.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NOMD. Fox Run Management L.L.C. acquired a new stake in shares of Nomad Foods during the fourth quarter worth approximately $955,000. PYA Waltman Capital LLC grew its stake in shares of Nomad Foods by 58.8% during the fourth quarter. PYA Waltman Capital LLC now owns 433,979 shares of the company’s stock valued at $5,429,000 after purchasing an additional 160,728 shares during the last quarter. Sei Investments Co. grew its stake in shares of Nomad Foods by 68.6% during the first quarter. Sei Investments Co. now owns 518,813 shares of the company’s stock valued at $4,986,000 after purchasing an additional 211,183 shares during the last quarter. Endure Capital Management LLC bought a new position in Nomad Foods in the first quarter valued at approximately $4,236,000. Finally, Invenomic Capital Management LP boosted its stake 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 acquiring an additional 722,995 shares during 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.