Nomad Foods (NYSE:NOMD) Upgraded at StockNews.com

Nomad Foods (NYSE:NOMD - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Wednesday.

A number of other analysts have also recently commented on NOMD. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Nomad Foods from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. Barclays cut their target price on Nomad Foods from $22.00 to $21.00 and set an "overweight" rating on the stock in a research report on Friday, July 19th.

Nomad Foods Stock Down 2.1 %

Shares of NOMD stock traded down $0.38 during trading hours on Wednesday, reaching $17.61. 545,190 shares of the company's stock were exchanged, compared to its average volume of 597,226. Nomad Foods has a fifty-two week low of $13.56 and a fifty-two week high of $20.05. The stock's 50 day moving average is $18.81 and its 200-day moving average is $18.24. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.80. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 14.79 and a beta of 0.78.

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

Institutional Investors Weigh In On Nomad Foods

Hedge funds have recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC acquired a new position in shares of Nomad Foods in the 1st quarter valued at $3,645,000. Swedbank AB purchased a new stake in shares of Nomad Foods during the 1st quarter worth about $10,425,000. Russell Investments Group Ltd. increased its stake in shares of Nomad Foods by 16.3% in the 1st quarter. Russell Investments Group Ltd. now owns 1,377,332 shares of the company's stock valued at $26,941,000 after purchasing an additional 193,531 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Nomad Foods by 123.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 548,738 shares of the company's stock worth $9,043,000 after purchasing an additional 302,913 shares during the period. Finally, Capstone Investment Advisors LLC purchased a new position in Nomad Foods during the first quarter worth approximately $1,398,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

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.