Nomad Foods (NYSE:NOMD) Downgraded to Hold Rating by StockNews.com

Nomad Foods (NYSE:NOMD) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Several other research firms have also recently weighed in on NOMD. Barclays reduced their price target on shares of Nomad Foods from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a report on Monday.

Nomad Foods Stock Up 1.2 %

Shares of Nomad Foods stock traded up $0.21 on Thursday, hitting $17.51. The company had a trading volume of 1,074,853 shares, compared to its average volume of 581,109. The firm has a market capitalization of $2.85 billion, a P/E ratio of 12.97 and a beta of 0.79. Nomad Foods has a twelve month low of $14.20 and a twelve month high of $20.05. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.17 and a quick ratio of 0.73. The stock has a 50-day moving average of $18.42 and a 200-day moving average of $18.05.

Nomad Foods (NYSE:NOMD) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $810.64 million during the quarter, compared to analysts’ expectations of $822.21 million. Nomad Foods had a net margin of 6.79% and a return on equity of 9.78%. Research analysts predict that Nomad Foods will post 1.96 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Pathstone Holdings LLC boosted its holdings in Nomad Foods by 5.5% during the third quarter. Pathstone Holdings LLC now owns 111,522 shares of the company’s stock worth $2,126,000 after purchasing an additional 5,805 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in Nomad Foods by 9.0% in the third quarter. Mutual of America Capital Management LLC now owns 201,273 shares of the company’s stock valued at $3,836,000 after acquiring an additional 16,549 shares during the last quarter. Seizert Capital Partners LLC lifted its stake in Nomad Foods by 42.7% in the third quarter. Seizert Capital Partners LLC now owns 270,164 shares of the company’s stock valued at $5,149,000 after acquiring an additional 80,807 shares during the last quarter. Natixis Advisors LLC lifted its stake in Nomad Foods by 20.8% in the third quarter. Natixis Advisors LLC now owns 71,647 shares of the company’s stock valued at $1,366,000 after acquiring an additional 12,343 shares during the last quarter. Finally, MQS Management LLC acquired a new stake in Nomad Foods in the third quarter valued at $350,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

Nomad Foods Company Profile

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.