Nomad Foods (NYSE:NOMD) Now Covered by DA Davidson

DA Davidson started coverage on shares of Nomad Foods (NYSE:NOMD) in a research note published on Wednesday, Benzinga reports. The brokerage issued a buy rating and a $26.00 price objective on the stock.

Other analysts also recently issued reports about the stock. TheStreet raised shares of Nomad Foods from a c rating to a b rating in a report on Friday, March 29th. UBS Group set a $25.00 price objective on shares of Nomad Foods and gave the stock a buy rating in a report on Friday, March 1st. Zacks Investment Research downgraded shares of Nomad Foods from a buy rating to a hold rating in a report on Wednesday, March 6th. Finally, Citigroup initiated coverage on shares of Nomad Foods in a report on Thursday, May 23rd. They set a neutral rating and a $24.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $24.00.

NYSE NOMD opened at $20.48 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.76. The firm has a market cap of $4.02 billion, a P/E ratio of 15.09, a PEG 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 quarterly earnings data on Thursday, May 9th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.09. The business had revenue of $617.80 million during the quarter, compared to the consensus estimate of $613.77 million. Nomad Foods had a net margin of 5.83% and a return on equity of 9.84%. Nomad Foods’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 EPS. On average, equities research analysts expect that Nomad Foods will post 1.37 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its stake in Nomad Foods by 0.9% during the 4th quarter. Legal & General Group Plc now owns 64,746 shares of the company’s stock valued at $1,083,000 after purchasing an additional 577 shares during the last quarter. Mckinley Capital Management LLC Delaware raised its stake in Nomad Foods by 1.8% during the 4th quarter. Mckinley Capital Management LLC Delaware now owns 51,302 shares of the company’s stock valued at $857,000 after purchasing an additional 901 shares during the last quarter. First Mercantile Trust Co. raised its stake in Nomad Foods by 13.5% during the 1st quarter. First Mercantile Trust Co. now owns 13,113 shares of the company’s stock valued at $268,000 after purchasing an additional 1,563 shares during the last quarter. Synovus Financial Corp raised its stake in Nomad Foods by 1,303.9% during the 4th quarter. Synovus Financial Corp now owns 1,797 shares of the company’s stock valued at $30,000 after purchasing an additional 1,669 shares during the last quarter. Finally, Avalon Advisors LLC raised its stake in Nomad Foods by 0.9% during the 1st quarter. Avalon Advisors LLC now owns 192,662 shares of the company’s stock valued at $3,940,000 after purchasing an additional 1,674 shares during the last quarter. Hedge funds and other institutional investors own 77.55% 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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