12. RESPONSIBLE CONSUMPTION AND PRODUCTION

Nomad Foods (NYSE:NOMD) Downgraded to Strong Sell at Zacks Investment Research – MarketBeat

Nomad Foods (NYSE:NOMD) Downgraded to Strong Sell at Zacks Investment Research  MarketBeat

Nomad Foods (NYSE:NOMD) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Nomad Foods Ltd. manufactures and distributes frozen foods primarily in the United Kingdom, Italy, Germany, Sweden, France and Norway. The Company’s portfolio of frozen food brands includes Birds Eye, Iglo and Findus. Nomad Foods Ltd. is headquartered in Feltham, the United Kingdom. “

NOMD has been the subject of several other research reports. TheStreet downgraded Nomad Foods from a “b-” rating to a “c+” rating in a report on Monday, November 8th. The Goldman Sachs Group cut Nomad Foods from a “buy” rating to a “neutral” rating and cut their target price for the company from $36.00 to $29.00 in a research report on Thursday, November 4th. Citigroup assumed coverage on Nomad Foods in a research report on Wednesday, October 6th. They set a “buy” rating and a $34.00 price target on the stock. Jefferies Financial Group reiterated a “buy” rating on shares of Nomad Foods in a research note on Monday, September 13th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Nomad Foods from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, October 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $32.29.

Nomad Foods stock opened at $24.68 on Wednesday. The firm’s 50-day moving average is $26.31. The firm has a market cap of $4.25 billion, a PE ratio of 17.63 and a beta of 0.67. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.52 and a current ratio of 0.99. Nomad Foods has a 52 week low of $23.18 and a 52 week high of $31.85.

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Nomad Foods (NYSE:NOMD) last released its quarterly earnings results on Thursday, November 4th. The company reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.04. Nomad Foods had a net margin of 8.24% and a return on equity of 13.03%. The company had revenue of $599.40 million for the quarter, compared to analyst estimates of $596.27 million. During the same quarter last year, the firm posted $0.35 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities research analysts anticipate that Nomad Foods will post 1.79 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley increased its holdings in Nomad Foods by 0.4% in the 3rd quarter. Morgan Stanley now owns 125,907 shares of the company’s stock valued at $3,470,000 after purchasing an additional 454 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in Nomad Foods by 8.7% during the second quarter. O Shaughnessy Asset Management LLC now owns 7,034 shares of the company’s stock worth $199,000 after buying an additional 565 shares during the period. First Bank & Trust lifted its stake in shares of Nomad Foods by 12.2% during the second quarter. First Bank & Trust now owns 5,844 shares of the company’s stock valued at $165,000 after buying an additional 634 shares during the period. Cooper Financial Group grew its holdings in Nomad Foods by 7.8% during the 3rd quarter. Cooper Financial Group now owns 9,837 shares of the company’s stock valued at $271,000 after purchasing an additional 714 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Nomad Foods by 32.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,614 shares of the company’s stock valued at $101,000 after buying an additional 879 shares during the period. 76.75% of the stock is currently owned by institutional investors and hedge funds.

About Nomad Foods

Nomad Foods Ltd. operates as a holding company, which manufactures and sells frozen foods for human consumption. It 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 in April 2014 and is headquartered in Middlesex, the United Kingdom.

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Analyst Recommendations for Nomad Foods (NYSE:NOMD)

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