StockNews.com Upgrades Nomad Foods (NYSE:NOMD) to Strong-Buy

Nomad Foods (NYSE:NOMD) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.

Several other brokerages have also weighed in on NOMD. Mizuho upped their price objective on Nomad Foods from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Barclays boosted their price target on shares of Nomad Foods from $19.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, March 3rd.

Nomad Foods Price Performance

Shares of Nomad Foods stock traded up $0.22 on Friday, hitting $19.10. The company had a trading volume of 551,885 shares, compared to its average volume of 623,925. Nomad Foods has a 52 week low of $15.43 and a 52 week high of $20.81. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.72. The company has a market cap of $2.93 billion, a PE ratio of 14.36 and a beta of 0.83. The business has a 50-day simple moving average of $19.10 and a 200-day simple moving average of $17.96.

Hedge Funds Weigh In On Nomad Foods

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Nomad Foods by 11.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,140,867 shares of the company’s stock valued at $19,144,000 after purchasing an additional 114,026 shares during the period. Raymond James Financial Inc. purchased a new stake in Nomad Foods during the fourth quarter valued at about $11,967,000. River Road Asset Management LLC increased its position in shares of Nomad Foods by 0.6% in the fourth quarter. River Road Asset Management LLC now owns 4,044,438 shares of the company’s stock worth $67,866,000 after acquiring an additional 24,775 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Nomad Foods by 10.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 27,333 shares of the company’s stock worth $459,000 after acquiring an additional 2,535 shares in the last quarter. Finally, Empowered Funds LLC acquired a new stake in shares of Nomad Foods during the fourth quarter valued at approximately $317,000. 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.