Nomad Foods (NYSE:NOMD) Earns “Buy” Rating from BTIG Research

Nomad Foods (NYSE:NOMD)‘s stock had its “buy” rating reissued by stock analysts at BTIG Research in a research note issued to investors on Thursday, Benzinga reports. They currently have a $15.00 price objective on the stock. BTIG Research’s target price indicates a potential upside of 35.98% from the company’s current price.

Other research analysts have also issued reports about the company. Zacks Research lowered Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $12.00 price objective on shares of Nomad Foods in a research report on Wednesday. Barclays increased their price objective on shares of Nomad Foods from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Nomad Foods in a research report on Tuesday, September 29th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.50.

Nomad Foods Stock Up 0.3%

Shares of NOMD stock opened at $11.03 on Thursday. Nomad Foods has a 52-week low of $8.99 and a 52-week high of $13.08. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 10.81 and a beta of 0.75. The firm’s 50-day moving average is $11.35 and its 200-day moving average is $10.69. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 1.10.

Nomad Foods (NYSE:NOMD) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. The firm had revenue of $825.94 million for the quarter, compared to the consensus estimate of $825.02 million. Nomad Foods had a return on equity of 8.88% and a net margin of 4.20%.The business’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 earnings per share. Nomad Foods has set its FY 2026 guidance at 1.604-1.779 EPS. Sell-side analysts predict that Nomad Foods will post 1.63 EPS for the current year.

Insider Transactions at Nomad Foods

In other Nomad Foods news, CEO Dominic Brisby purchased 50,000 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was bought at an average cost of $12.38 per share, for a total transaction of $619,000.00. Following the completion of the transaction, the chief executive officer owned 726,794 shares in the company, valued at approximately $8,997,709.72. This represents a 7.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Ruben Baldew purchased 28,290 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was bought at an average price of $11.85 per share, with a total value of $335,236.50. Following the completion of the purchase, the chief financial officer owned 367,172 shares of the company’s stock, valued at $4,350,988.20. This trade represents a 8.35% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 17.27% of the company’s stock.

Hedge Funds Weigh In On Nomad Foods

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its position in shares of Nomad Foods by 6.0% in the first quarter. Renaissance Technologies LLC now owns 3,024,282 shares of the company’s stock worth $29,063,000 after purchasing an additional 172,215 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Nomad Foods by 7.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,782,238 shares of the company’s stock worth $17,127,000 after purchasing an additional 116,647 shares during the period. Systematic Financial Management LP grew its stake in Nomad Foods by 7.8% during the first quarter. Systematic Financial Management LP now owns 1,728,211 shares of the company’s stock worth $16,608,000 after buying an additional 124,389 shares in the last quarter. Invenomic Capital Management LP increased its holdings in Nomad Foods by 75.9% in the 4th quarter. Invenomic Capital Management LP now owns 1,675,263 shares of the company’s stock valued at $20,958,000 after buying an additional 722,995 shares during the period. Finally, Bank of America Corp DE increased its holdings in Nomad Foods by 19.0% in the 1st quarter. Bank of America Corp DE now owns 1,569,765 shares of the company’s stock valued at $15,085,000 after buying an additional 251,148 shares during the period. 75.26% of the stock is owned by institutional investors and hedge funds.

Nomad Foods Company Profile

Nomad Foods Ltd. is a European food company focused on frozen foods. Its portfolio includes frozen fish, vegetables, poultry, potato products, meals, and desserts sold through grocery retailers and other food channels.

The company markets products under several established brands, including Birds Eye in the United Kingdom and Ireland, iglo in Germany and other European markets, Findus in parts of continental Europe, Aunt Bessie’s in the United Kingdom, and Goodfella’s frozen pizza in selected markets.