Nomad Foods (NYSE:NOMD) Upgraded to “Buy” at StockNews.com

Nomad Foods (NYSE:NOMD) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

Separately, Deutsche Bank Aktiengesellschaft dropped their price target on Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Monday, November 4th.

Nomad Foods Stock Performance

NOMD stock traded up $0.27 during trading on Monday, hitting $16.74. 977,606 shares of the company traded hands, compared to its average volume of 601,878. The company has a market cap of $2.73 billion, a PE ratio of 12.59 and a beta of 0.79. Nomad Foods has a 1 year low of $15.76 and a 1 year high of $20.05. The stock’s 50-day simple moving average is $18.13 and its 200 day simple moving average is $17.97. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.17 and a quick ratio of 0.73.

Institutional Trading of Nomad Foods

Several hedge funds have recently modified their holdings of the business. Blue Trust Inc. increased its stake in Nomad Foods by 133.2% in the 2nd quarter. Blue Trust Inc. now owns 1,635 shares of the company’s stock valued at $27,000 after purchasing an additional 934 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Nomad Foods by 61.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,100 shares of the company’s stock valued at $40,000 after purchasing an additional 800 shares in the last quarter. Headlands Technologies LLC purchased a new position in Nomad Foods in the 2nd quarter valued at approximately $42,000. National Bank of Canada FI increased its stake in Nomad Foods by 378.4% in the 2nd quarter. National Bank of Canada FI now owns 2,775 shares of the company’s stock valued at $46,000 after purchasing an additional 2,195 shares in the last quarter. Finally, Quarry LP increased its stake in Nomad Foods by 366.5% in the 2nd quarter. Quarry LP now owns 3,004 shares of the company’s stock valued at $50,000 after purchasing an additional 2,360 shares in the last quarter. 75.26% of the stock is owned by institutional investors and hedge funds.

Nomad Foods Company Profile

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.