Mizuho Issues Pessimistic Forecast for Nomad Foods (NYSE:NOMD) Stock Price

Nomad Foods (NYSE:NOMD) had its price objective cut by investment analysts at Mizuho from $28.00 to $24.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price objective indicates a potential upside of 42.94% from the stock’s previous close.

Several other equities analysts have also commented on the stock. StockNews.com upgraded shares of Nomad Foods from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft cut their target price on Nomad Foods from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Monday, November 4th.

Nomad Foods Stock Down 0.9 %

Shares of NOMD opened at $16.79 on Wednesday. The company’s 50-day moving average price is $17.49 and its 200 day moving average price is $17.86. Nomad Foods has a 12-month low of $15.99 and a 12-month high of $20.05. The company has a current ratio of 1.20, a quick ratio of 0.72 and a debt-to-equity ratio of 0.79. The firm has a market cap of $2.74 billion, a P/E ratio of 12.62 and a beta of 0.78.

Institutional Investors Weigh In On Nomad Foods

A number of hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its stake in Nomad Foods by 133.2% during the 2nd quarter. Blue Trust Inc. now owns 1,635 shares of the company’s stock worth $27,000 after purchasing an additional 934 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of 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 stake in shares of Nomad Foods during the 2nd quarter worth $42,000. National Bank of Canada FI grew its stake in shares of Nomad Foods by 378.4% during the second quarter. National Bank of Canada FI now owns 2,775 shares of the company’s stock worth $46,000 after purchasing an additional 2,195 shares in the last quarter. Finally, Quarry LP increased its holdings in Nomad Foods by 366.5% in the second quarter. Quarry LP now owns 3,004 shares of the company’s stock valued at $50,000 after buying an additional 2,360 shares during 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.