Nomad Foods (NYSE:NOMD) Cut to "Hold" at StockNews.com

Nomad Foods (NYSE:NOMD - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Thursday.

Other research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft increased their price objective on Nomad Foods from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Barclays lowered their price target on Nomad Foods from $22.00 to $21.00 and set an "overweight" rating for the company in a research report on Friday, July 19th.

Nomad Foods Price Performance

Shares of NYSE:NOMD traded up $0.07 during midday trading on Thursday, hitting $17.94. The company had a trading volume of 384,881 shares, compared to its average volume of 590,303. Nomad Foods has a twelve month low of $13.56 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 market cap of $2.92 billion, a price-to-earnings ratio of 14.88 and a beta of 0.78. The business's 50-day simple moving average is $18.69 and its 200-day simple moving average is $18.17.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. boosted its holdings in Nomad Foods by 133.2% in the second quarter. Blue Trust Inc. now owns 1,635 shares of the company's stock valued at $27,000 after purchasing an additional 934 shares during the period. Headlands Technologies LLC purchased a new position in Nomad Foods in the second quarter valued at $42,000. National Bank of Canada FI raised its stake in Nomad Foods by 378.4% in the second quarter. National Bank of Canada FI now owns 2,775 shares of the company's stock valued at $46,000 after buying an additional 2,195 shares in the last quarter. Quarry LP raised its stake in Nomad Foods by 366.5% in the second quarter. Quarry LP now owns 3,004 shares of the company's stock valued at $50,000 after buying an additional 2,360 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in Nomad Foods in the second quarter valued at $120,000. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

About Nomad Foods

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.