Mizuho Raises Nomad Foods (NYSE:NOMD) Price Target to $28.00

Nomad Foods (NYSE:NOMD) had its target price increased by Mizuho from $26.00 to $28.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Mizuho’s price objective would suggest a potential upside of 47.99% from the stock’s previous close.

Separately, Barclays lifted their price objective on Nomad Foods from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd.

Nomad Foods Trading Up 6.0 %

NYSE NOMD opened at $18.92 on Friday. The stock’s 50-day simple moving average is $18.99 and its two-hundred day simple moving average is $17.51. Nomad Foods has a twelve month low of $13.56 and a twelve month high of $20.05. The company has a quick ratio of 0.70, a current ratio of 1.13 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 15.38 and a beta of 0.77.

Nomad Foods (NYSE:NOMD) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Nomad Foods had a return on equity of 10.41% and a net margin of 6.34%. The business had revenue of $761.00 million for the quarter, compared to the consensus estimate of $766.56 million. During the same quarter last year, the business posted $0.34 earnings per share. Research analysts forecast that Nomad Foods will post 1.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Deroy & Devereaux Private Investment Counsel Inc. grew its stake in shares of Nomad Foods by 6.2% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 201,685 shares of the company’s stock worth $3,070,000 after purchasing an additional 11,735 shares during the last quarter. Paradice Investment Management LLC grew its stake in shares of Nomad Foods by 13.9% in the third quarter. Paradice Investment Management LLC now owns 2,522,621 shares of the company’s stock worth $38,394,000 after purchasing an additional 307,496 shares during the last quarter. Townsend & Associates Inc grew its stake in shares of Nomad Foods by 54.1% in the third quarter. Townsend & Associates Inc now owns 693,791 shares of the company’s stock worth $10,559,000 after purchasing an additional 243,640 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Nomad Foods by 2.0% in the third quarter. California Public Employees Retirement System now owns 303,611 shares of the company’s stock worth $4,621,000 after purchasing an additional 6,061 shares during the last quarter. Finally, NBC Securities Inc. bought a new stake in shares of Nomad Foods in the third quarter worth about $31,000. 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.