Mizuho Forecasts Strong Price Appreciation for Nomad Foods (NYSE:NOMD) Stock

Nomad Foods (NYSE:NOMD) had its price objective increased by analysts at Mizuho from $24.00 to $26.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price target indicates a potential upside of 28.97% from the company’s previous close.

A number of other research firms have also weighed in on NOMD. Barclays boosted their target price on Nomad Foods from $19.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft dropped their price objective on Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, StockNews.com upgraded shares of Nomad Foods from a “hold” rating to a “buy” rating in a report on Monday, November 18th.

Nomad Foods Price Performance

NYSE NOMD traded up $0.32 during trading hours on Tuesday, reaching $20.16. 199,026 shares of the stock traded hands, compared to its average volume of 582,547. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 15.08 and a beta of 0.79. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.72. Nomad Foods has a 1 year low of $15.43 and a 1 year high of $20.67. The stock has a 50 day simple moving average of $17.37 and a two-hundred day simple moving average of $17.81.

Institutional Trading of Nomad Foods

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NOMD. Robeco Institutional Asset Management B.V. raised its holdings in Nomad Foods by 21.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 426,273 shares of the company’s stock worth $8,125,000 after purchasing an additional 76,394 shares in the last quarter. River Road Asset Management LLC increased its position in shares of Nomad Foods by 2.9% during the third quarter. River Road Asset Management LLC now owns 4,019,663 shares of the company’s stock valued at $76,615,000 after buying an additional 114,750 shares during the period. Townsend & Associates Inc raised its stake in Nomad Foods by 3.6% in the third quarter. Townsend & Associates Inc now owns 1,539,731 shares of the company’s stock worth $26,976,000 after buying an additional 53,694 shares in the last quarter. Atria Investments Inc lifted its holdings in Nomad Foods by 34.0% in the third quarter. Atria Investments Inc now owns 19,201 shares of the company’s stock worth $366,000 after buying an additional 4,870 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Nomad Foods by 0.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,069,181 shares of the company’s stock worth $39,439,000 after acquiring an additional 18,189 shares in the last quarter. Hedge funds and other institutional investors own 75.26% of the company’s stock.

About Nomad Foods

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.