Nomad Foods (NOMD) Reaches New 52-Week High at $20.95

Shares of Nomad Foods Ltd (NYSE:NOMD) hit a new 52-week high during trading on Thursday . The company traded as high as $20.95 and last traded at $20.99, with a volume of 35954 shares. The stock had previously closed at $20.66.

A number of analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Nomad Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, July 17th. Wells Fargo & Co assumed coverage on shares of Nomad Foods in a research note on Thursday, June 28th. They issued an “outperform” rating and a $23.00 price target for the company. UBS Group lifted their price target on shares of Nomad Foods from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Credit Suisse Group assumed coverage on shares of Nomad Foods in a research note on Tuesday, July 17th. They issued an “outperform” rating and a $24.00 price target for the company. Finally, ValuEngine lowered shares of Nomad Foods from a “buy” rating to a “hold” rating in a research note on Tuesday, May 29th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $22.17.

The company has a current ratio of 1.36, a quick ratio of 0.90 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $3.60 billion, a PE ratio of 15.45, a P/E/G ratio of 1.03 and a beta of 0.63.

Nomad Foods (NYSE:NOMD) last posted its quarterly earnings data on Thursday, August 9th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. The company had revenue of $488.20 million for the quarter, compared to the consensus estimate of $482.81 million. Nomad Foods had a net margin of 8.19% and a return on equity of 10.44%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 earnings per share. analysts anticipate that Nomad Foods Ltd will post 1.34 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of NOMD. Wells Fargo & Company MN boosted its holdings in shares of Nomad Foods by 5.1% in the first quarter. Wells Fargo & Company MN now owns 3,430,556 shares of the company’s stock worth $53,997,000 after buying an additional 166,106 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Nomad Foods in the first quarter worth approximately $161,000. Trexquant Investment LP purchased a new position in shares of Nomad Foods in the first quarter worth approximately $541,000. Schwab Charles Investment Management Inc. boosted its holdings in shares of Nomad Foods by 47.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 101,184 shares of the company’s stock worth $1,593,000 after buying an additional 32,476 shares during the last quarter. Finally, Engineers Gate Manager LP boosted its holdings in shares of Nomad Foods by 4.5% in the first quarter. Engineers Gate Manager LP now owns 116,783 shares of the company’s stock worth $1,838,000 after buying an additional 4,985 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors.

Nomad Foods Company Profile (NYSE:NOMD)

Nomad Foods Limited manufactures and distributes frozen foods in Western Europe. The company offers fish products, including fish fingers, coated fish, and natural fish; vegetables, such as peas and spinach; and poultry and meat products comprising nuggets, grills, and burgers. It also provides meals products that include ready to cook noodles, pasta, lasagne, pancakes, and other ready-made meals; and other products, such as soups, pizzas, and bakery goods.

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