Nomad Foods Limited (NOMD) Given Average Rating of “Buy” by Brokerages

Nomad Foods Limited (NYSE:NOMD) has received a consensus rating of “Buy” from the six analysts that are covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $17.20.

NOMD has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Nomad Foods from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Berenberg Bank began coverage on shares of Nomad Foods in a report on Thursday, November 16th. They issued a “buy” rating and a $18.00 price target on the stock. ValuEngine raised shares of Nomad Foods from a “hold” rating to a “buy” rating in a report on Thursday, November 16th. Finally, SunTrust Banks upped their price target on shares of Nomad Foods to $20.00 and gave the company a “buy” rating in a report on Wednesday, November 29th.

Nomad Foods (NYSE NOMD) opened at $16.89 on Friday. Nomad Foods has a 12-month low of $9.61 and a 12-month high of $17.02. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.56 and a current ratio of 1.03. The company has a market cap of $2,829.20 and a price-to-earnings ratio of 24.84.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Boston Partners raised its holdings in Nomad Foods by 28.9% in the third quarter. Boston Partners now owns 8,252,928 shares of the company’s stock valued at $120,245,000 after acquiring an additional 1,852,022 shares in the last quarter. Brown Advisory Inc. acquired a new stake in Nomad Foods in the third quarter valued at $60,398,000. Investec Asset Management LTD acquired a new stake in Nomad Foods in the third quarter valued at $59,739,000. Janus Henderson Group PLC raised its holdings in Nomad Foods by 45.5% in the third quarter. Janus Henderson Group PLC now owns 3,960,204 shares of the company’s stock valued at $57,700,000 after acquiring an additional 1,238,607 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Nomad Foods by 5.7% in the third quarter. Victory Capital Management Inc. now owns 3,387,760 shares of the company’s stock valued at $49,359,000 after acquiring an additional 181,730 shares in the last quarter. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

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About Nomad Foods

Nomad Foods Limited manufactures and distributes frozen foods primarily in the United Kingdom, Italy, Germany, Sweden, France, and Norway. The company’s frozen food products include fish, vegetables, poultry products, and ready meals. It sells its products directly or through distribution arrangements to supermarkets and large food retail chains under the Birdseye, Findus, and Iglo brands.

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