Shares of Nomad Foods Limited (NYSE:NOMD – Get Rating) have earned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $22.00.
Several analysts have recently issued reports on the company. StockNews.com raised Nomad Foods from a “hold” rating to a “buy” rating in a report on Wednesday, April 19th. Credit Suisse Group reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Nomad Foods in a report on Monday, February 27th. Deutsche Bank Aktiengesellschaft decreased their price objective on Nomad Foods from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, February 24th. Barclays upped their price objective on Nomad Foods from $18.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, April 14th. Finally, The Goldman Sachs Group upgraded Nomad Foods from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Sunday, February 26th.
Hedge Funds Weigh In On Nomad Foods
A number of hedge funds and other institutional investors have recently made changes to their positions in NOMD. Ronald Blue Trust Inc. boosted its position in Nomad Foods by 61.6% during the first quarter. Ronald Blue Trust Inc. now owns 2,588 shares of the company’s stock valued at $45,000 after purchasing an additional 987 shares in the last quarter. Chartwell Investment Partners LLC purchased a new stake in Nomad Foods in the first quarter valued at about $8,073,000. American Trust purchased a new stake in Nomad Foods in the fourth quarter valued at about $191,000. Alliancebernstein L.P. raised its stake in Nomad Foods by 4.2% in the fourth quarter. Alliancebernstein L.P. now owns 11,842,891 shares of the company’s stock valued at $204,171,000 after buying an additional 476,977 shares during the last quarter. Finally, State of Wyoming raised its stake in Nomad Foods by 18.0% in the fourth quarter. State of Wyoming now owns 9,221 shares of the company’s stock valued at $159,000 after buying an additional 1,404 shares during the last quarter. Institutional investors own 78.54% of the company’s stock.
Nomad Foods Trading Down 0.7 %
Nomad Foods (NYSE:NOMD – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). Nomad Foods had a return on equity of 11.77% and a net margin of 8.49%. The business had revenue of $766.03 million during the quarter, compared to the consensus estimate of $788.13 million. As a group, equities research analysts expect that Nomad Foods will post 1.62 EPS for the current year.
About Nomad Foods
Nomad Foods Ltd. operates as a holding company, which manufactures and sells frozen foods for human consumption. The firm offers its products under the brands LUTOSA, la Cocinera, Birds Eye, Iglo, and Findus. The company was founded by Noam Gottesman and Sir Martin E. Franklin on April 1, 2014 and is headquartered in Middlesex, the United Kingdom.
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