Nomad Foods (NYSE:NOMD) Earns Neutral Rating from Credit Suisse Group

Nomad Foods (NYSE:NOMD – Get Rating)‘s stock had its “neutral” rating reaffirmed by research analysts at Credit Suisse Group in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $20.00 price objective on the stock. Credit Suisse Group’s target price points to a potential upside of 11.61% from the company’s previous close.

Other research analysts have also issued reports about the company. The Goldman Sachs Group raised Nomad Foods from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Sunday. Deutsche Bank Aktiengesellschaft reduced their price target on Nomad Foods from $24.00 to $21.00 and set a “buy” rating for the company in a report on Friday, February 24th. Finally, StockNews.com lowered Nomad Foods from a “buy” rating to a “hold” rating in a report on Friday, February 24th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Nomad Foods currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.86.

Nomad Foods Stock Performance

NOMD stock opened at $17.92 on Monday. Nomad Foods has a 1 year low of $12.50 and a 1 year high of $25.42. The stock’s fifty day moving average is $17.41 and its two-hundred day moving average is $16.70. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.70 and a current ratio of 1.19. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 12.57 and a beta of 0.74.

Hedge Funds Weigh In On Nomad Foods

Large investors have recently made changes to their positions in the company. Polaris Capital Management LLC lifted its stake in Nomad Foods by 194.1% in the second quarter. Polaris Capital Management LLC now owns 7,322,000 shares of the company’s stock valued at $146,367,000 after buying an additional 4,832,306 shares during the period. Wellington Management Group LLP lifted its stake in Nomad Foods by 10.7% in the first quarter. Wellington Management Group LLP now owns 15,574,393 shares of the company’s stock valued at $351,670,000 after buying an additional 1,501,225 shares during the period. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Nomad Foods by 32.4% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,841,886 shares of the company’s stock worth $100,714,000 after acquiring an additional 1,428,088 shares in the last quarter. Norges Bank bought a new stake in shares of Nomad Foods in the fourth quarter worth about $22,913,000. Finally, State Street Corp boosted its position in Nomad Foods by 595.3% during the first quarter. State Street Corp now owns 876,307 shares of the company’s stock valued at $19,787,000 after purchasing an additional 750,281 shares during the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.

About Nomad Foods

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Nomad Foods Ltd. operates as a holding company, which manufactures and sells frozen foods for human consumption. The firm offers its products under the brands LUTOSA, la Cocinera, Birds Eye, Iglo, and Findus. The company was founded by Noam Gottesman and Sir Martin E. Franklin on April 1, 2014 and is headquartered in Middlesex, the United Kingdom.