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

Nomad Foods (NYSE:NOMD) had its price target reduced by analysts at Barclays from $21.00 to $19.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 12.05% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Mizuho decreased their price target on Nomad Foods from $28.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. StockNews.com upgraded shares of Nomad Foods from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of 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 $0.07 on Friday, hitting $16.96. The company’s stock had a trading volume of 92,230 shares, compared to its average volume of 559,440. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 12.74 and a beta of 0.79. The firm has a 50 day moving average of $17.04 and a two-hundred day moving average of $17.80. The company has a current ratio of 1.20, a quick ratio of 0.72 and a debt-to-equity ratio of 0.79. Nomad Foods has a 1 year low of $15.43 and a 1 year high of $20.05.

Hedge Funds Weigh In On Nomad Foods

Large investors have recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. lifted its position in shares of Nomad Foods by 61.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,100 shares of the company’s stock valued at $40,000 after acquiring an additional 800 shares during the period. Avior Wealth Management LLC increased its position in shares of Nomad Foods by 25.8% in the third quarter. Avior Wealth Management LLC now owns 3,920 shares of the company’s stock valued at $75,000 after buying an additional 804 shares in the last quarter. Custom Index Systems LLC raised its stake in shares of Nomad Foods by 4.7% during the 3rd quarter. Custom Index Systems LLC now owns 18,845 shares of the company’s stock worth $359,000 after buying an additional 847 shares during the last quarter. State Street Corp grew its stake in Nomad Foods by 0.6% in the 3rd quarter. State Street Corp now owns 182,004 shares of the company’s stock valued at $3,469,000 after acquiring an additional 1,018 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. grew its stake in Nomad Foods by 0.7% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 202,735 shares of the company’s stock valued at $3,864,000 after acquiring an additional 1,450 shares during 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.