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

Nomad Foods (NYSE:NOMD) had its price target decreased by research analysts at Mizuho from $28.00 to $24.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price target suggests a potential upside of 38.77% from the stock’s current price.

NOMD has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on Nomad Foods from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. StockNews.com raised shares of Nomad Foods from a “hold” rating to a “buy” rating in a research report on Monday, November 18th.

Nomad Foods Trading Down 0.4 %

NOMD opened at $17.30 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.72. The company’s 50 day simple moving average is $17.52 and its two-hundred day simple moving average is $17.88. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 13.00 and a beta of 0.78. Nomad Foods has a 1-year low of $15.99 and a 1-year high of $20.05.

Hedge Funds Weigh In On Nomad Foods

Several large investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its position in Nomad Foods by 133.2% in the second quarter. Blue Trust Inc. now owns 1,635 shares of the company’s stock valued at $27,000 after purchasing an additional 934 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in Nomad Foods by 61.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,100 shares of the company’s stock worth $40,000 after acquiring an additional 800 shares in the last quarter. Headlands Technologies LLC purchased a new position in Nomad Foods during the 2nd quarter valued at about $42,000. National Bank of Canada FI boosted its holdings in Nomad Foods by 378.4% during the 2nd quarter. National Bank of Canada FI now owns 2,775 shares of the company’s stock valued at $46,000 after acquiring an additional 2,195 shares during the period. Finally, Quarry LP grew its position 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 acquiring an additional 2,360 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

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.