Nomad Foods (NYSE:NOMD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday. The brokerage currently has a $18.00 price target on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 8.30% from the company’s previous close.

According to Zacks, “Nomad Foods Ltd. manufactures and distributes frozen foods primarily in the United Kingdom, Italy, Germany, Sweden, France and Norway. The Company’s portfolio of frozen food brands includes Birds Eye, Iglo and Findus. Nomad Foods Ltd. is headquartered in Feltham, the United Kingdom. “

Other analysts also recently issued reports about the company. SunTrust Banks increased their price target on Nomad Foods to $20.00 and gave the stock a “buy” rating in a report on Wednesday. ValuEngine upgraded Nomad Foods from a “hold” rating to a “buy” rating in a report on Thursday, November 16th. Finally, Berenberg Bank started coverage on Nomad Foods in a report on Thursday, November 16th. They set a “buy” rating and a $18.00 price target for the company. Six investment analysts have rated the stock with a buy rating, Nomad Foods has a consensus rating of “Buy” and a consensus price target of $17.20.

Shares of Nomad Foods (NYSE NOMD) opened at $16.62 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.68 and a debt-to-equity ratio of 0.77. Nomad Foods has a 1-year low of $9.00 and a 1-year high of $16.90. The firm has a market capitalization of $2,831.80 and a PE ratio of 17.30.

Several hedge funds have recently added to or reduced their stakes in the company. Scoggin Management LP bought a new position in shares of Nomad Foods during the 3rd quarter worth about $18,213,000. Neuberger Berman Group LLC bought a new position in Nomad Foods in the 3rd quarter valued at about $14,312,000. California Public Employees Retirement System bought a new position in Nomad Foods in the 3rd quarter valued at about $1,613,000. Highbridge Capital Management LLC bought a new position in Nomad Foods in the 3rd quarter valued at about $447,000. Finally, Janus Henderson Group PLC lifted its position in Nomad Foods by 45.5% in the 3rd 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. 72.83% of the stock is currently owned by institutional investors.

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Nomad Foods Company Profile

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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