Nomad Foods’ (NOMD) “Buy” Rating Reiterated at BTIG Research

Nomad Foods (NYSE:NOMD)‘s stock had its “buy” rating reissued by BTIG Research in a note issued to investors on Thursday, Benzinga reports. They currently have a $15.00 target price on the stock. BTIG Research’s target price points to a potential upside of 37.85% from the stock’s current price.

NOMD has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $12.00 price target on shares of Nomad Foods in a research note on Wednesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Nomad Foods in a research note on Tuesday, September 29th. Zacks Research cut Nomad Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, August 17th. Finally, Barclays increased their price target on Nomad Foods from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $13.50.

Nomad Foods Stock Down 1.1%

Nomad Foods stock traded down $0.12 during midday trading on Thursday, reaching $10.88. The company’s stock had a trading volume of 132,778 shares, compared to its average volume of 1,600,085. The stock’s 50-day simple moving average is $11.35 and its 200-day simple moving average is $10.69. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.10 and a quick ratio of 0.66. Nomad Foods has a 52-week low of $8.99 and a 52-week high of $13.08. The stock has a market capitalization of $1.52 billion, a P/E ratio of 10.71 and a beta of 0.75.

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

Insider Transactions at Nomad Foods

In other news, CFO Ruben Baldew acquired 28,290 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were acquired at an average cost of $11.85 per share, with a total value of $335,236.50. Following the completion of the acquisition, the chief financial officer owned 367,172 shares of the company’s stock, valued at approximately $4,350,988.20. This trade represents a 8.35% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Dominic Brisby acquired 50,000 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was purchased at an average cost of $12.38 per share, for a total transaction of $619,000.00. Following the completion of the acquisition, the chief executive officer directly owned 726,794 shares of the company’s stock, valued at approximately $8,997,709.72. This trade represents a 7.39% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 17.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its holdings in shares of Nomad Foods by 3,231.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,332 shares of the company’s stock valued at $29,000 after purchasing an additional 2,262 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Nomad Foods by 219.6% in the first quarter. EverSource Wealth Advisors LLC now owns 7,773 shares of the company’s stock valued at $75,000 after purchasing an additional 5,341 shares during the period. Cetera Investment Advisers acquired a new position in shares of Nomad Foods in the first quarter valued at about $97,000. DGS Capital Management LLC grew its holdings in Nomad Foods by 17.8% during the fourth quarter. DGS Capital Management LLC now owns 14,839 shares of the company’s stock worth $186,000 after acquiring an additional 2,243 shares during the period. Finally, Alpine Woods Capital Investors LLC acquired a new stake in Nomad Foods during the first quarter worth about $150,000. 75.26% of the stock is owned by institutional investors and hedge funds.

About Nomad Foods

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.