Mizuho Increases Nomad Foods (NYSE:NOMD) Price Target to $26.00

Nomad Foods (NYSE:NOMD) had its target price hoisted by equities researchers at Mizuho from $24.00 to $26.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price points to a potential upside of 26.18% from the company’s previous close.

A number of other research firms have also issued reports on NOMD. Barclays upped their target price on Nomad Foods from $19.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft reduced their target price on Nomad Foods from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, StockNews.com raised Nomad Foods from a “hold” rating to a “buy” rating in a research note on Monday, November 18th.

Nomad Foods Stock Performance

NOMD opened at $20.61 on Tuesday. The stock has a market cap of $3.36 billion, a P/E ratio of 15.49 and a beta of 0.77. 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 stock’s 50 day simple moving average is $17.52 and its 200 day simple moving average is $17.84. Nomad Foods has a 1-year low of $15.43 and a 1-year high of $20.81.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Brown Advisory Inc. lifted its stake in shares of Nomad Foods by 5.2% during the 4th quarter. Brown Advisory Inc. now owns 8,376,162 shares of the company’s stock worth $140,552,000 after purchasing an additional 410,455 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Nomad Foods by 2.5% during the 4th quarter. Alliancebernstein L.P. now owns 7,708,354 shares of the company’s stock worth $129,346,000 after purchasing an additional 187,146 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Nomad Foods by 2.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,176,211 shares of the company’s stock worth $70,077,000 after purchasing an additional 86,897 shares during the period. River Road Asset Management LLC lifted its stake in shares of Nomad Foods by 0.6% during the 4th quarter. River Road Asset Management LLC now owns 4,044,438 shares of the company’s stock worth $67,866,000 after purchasing an additional 24,775 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Nomad Foods by 12.2% during the 4th quarter. Victory Capital Management Inc. now owns 2,322,267 shares of the company’s stock worth $38,968,000 after purchasing an additional 253,086 shares during the period. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Nomad Foods Company Profile

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.