TheStreet Lowers Nomad Foods (NYSE:NOMD) to C+

Nomad Foods (NYSE:NOMD) was downgraded by equities researchers at TheStreet from a “b-” rating to a “c+” rating in a note issued to investors on Tuesday, TheStreetRatingsTable reports.

Several other analysts also recently issued reports on NOMD. UBS Group set a $25.00 price target on Nomad Foods and gave the company a “buy” rating in a research note on Friday, March 1st. Zacks Investment Research downgraded Nomad Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, Citigroup started coverage on Nomad Foods in a research note on Thursday, May 23rd. They issued a “neutral” rating and a $24.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $23.60.

NOMD stock opened at $20.63 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.54. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.68 and a beta of 1.09. Nomad Foods has a 1-year low of $15.87 and a 1-year high of $22.67.

Nomad Foods (NYSE:NOMD) last posted its earnings results on Thursday, May 9th. The company reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.09. The firm had revenue of $617.80 million for the quarter, compared to analyst estimates of $613.77 million. Nomad Foods had a return on equity of 9.84% and a net margin of 5.83%. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. Analysts predict that Nomad Foods will post 1.37 earnings per share for the current year.

Large investors have recently modified their holdings of the company. Synovus Financial Corp boosted its holdings in shares of Nomad Foods by 1,303.9% during the fourth quarter. Synovus Financial Corp now owns 1,797 shares of the company’s stock worth $30,000 after acquiring an additional 1,669 shares during the period. Investors Research Corp bought a new stake in shares of Nomad Foods during the first quarter worth approximately $41,000. KBC Group NV bought a new stake in shares of Nomad Foods during the fourth quarter worth approximately $67,000. Advisor Group Inc. boosted its holdings in shares of Nomad Foods by 87.1% during the fourth quarter. Advisor Group Inc. now owns 4,338 shares of the company’s stock worth $72,000 after acquiring an additional 2,020 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Nomad Foods by 61.4% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,698 shares of the company’s stock worth $75,000 after acquiring an additional 1,407 shares during the period. Institutional investors own 77.58% of the company’s stock.

Nomad Foods Company Profile

Nomad Foods Limited, together with its subsidiaries, produces, markets, and distributes frozen foods in the United Kingdom, Italy, Germany, Sweden, France, Norway, Austria, Spain, and rest of 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.

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Analyst Recommendations for Nomad Foods (NYSE:NOMD)

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