Mizuho Has Lowered Expectations for Nomad Foods (NYSE:NOMD) Stock Price

Nomad Foods (NYSE:NOMD) had its target price reduced by research analysts at Mizuho from $15.00 to $13.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price objective suggests a potential upside of 25.31% from the stock’s previous close.

A number of other brokerages have also recently weighed in on NOMD. Weiss Ratings restated a “hold (c-)” rating on shares of Nomad Foods in a research note on Wednesday, January 28th. BTIG Research decreased their price target on shares of Nomad Foods from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Monday. Barclays lowered their price target on shares of Nomad Foods from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Zacks Research upgraded shares of Nomad Foods from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Three analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.67.

Nomad Foods Stock Down 1.2%

Nomad Foods stock opened at $10.37 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 1.07 and a debt-to-equity ratio of 0.90. The firm has a market cap of $1.59 billion, a P/E ratio of 10.17 and a beta of 0.74. The business has a fifty day moving average of $12.25 and a two-hundred day moving average of $12.70. Nomad Foods has a twelve month low of $10.27 and a twelve month high of $20.81.

Institutional Investors Weigh In On Nomad Foods

Large investors have recently bought and sold shares of the company. Boston Partners lifted its position in Nomad Foods by 40.3% during the second quarter. Boston Partners now owns 14,323,433 shares of the company’s stock valued at $243,276,000 after purchasing an additional 4,114,150 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Nomad Foods by 0.4% in the 2nd quarter. Alliancebernstein L.P. now owns 7,330,537 shares of the company’s stock valued at $124,546,000 after buying an additional 27,177 shares during the period. Polaris Capital Management LLC lifted its holdings in shares of Nomad Foods by 138.8% in the 3rd quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company’s stock valued at $45,261,000 after buying an additional 2,000,400 shares during the period. Royce & Associates LP boosted its stake in shares of Nomad Foods by 1.3% in the fourth quarter. Royce & Associates LP now owns 2,484,858 shares of the company’s stock worth $31,086,000 after buying an additional 33,052 shares during the last quarter. Finally, Ruffer LLP acquired a new stake in Nomad Foods during the fourth quarter worth about $26,823,000. Hedge funds and other institutional investors own 75.26% of the company’s stock.

About Nomad Foods

Nomad Foods Limited is a leading frozen foods company headquartered in the United Kingdom, operating under the ticker symbol NOMD on the New York Stock Exchange. The company’s portfolio comprises well-known consumer brands such as Birds Eye, iglo, Findus, Goodfella’s and Aunt Bessie’s, covering a wide range of categories including vegetables, seafood, ready meals, pizzas and desserts. Nomad Foods focuses on delivering convenient, high-quality frozen products designed to meet evolving consumer preferences for taste, nutrition and ease of preparation.

Formed in 2015 through the acquisition of Iglo Group by investment firms Permira and Goldman Sachs Asset Management, Nomad Foods was created with the strategy of building Europe’s largest frozen foods platform.