Nomad Foods (NOMD) Receives a Buy from Barclays

By Carrie Williams

In a report released yesterday, Andrew Lazar from Barclays maintained a Buy rating on Nomad Foods (NOMDResearch Report), with a price target of $22.00. The company’s shares closed last Thursday at $19.61.

According to TipRanks.com, Lazar is a 5-star analyst with an average return of 6.5% and a 62.0% success rate. Lazar covers the Consumer Goods sector, focusing on stocks such as Mondelez International, Lamb Weston Holdings, and McCormick & Company.

Currently, the analyst consensus on Nomad Foods is a Strong Buy with an average price target of $24.20.

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Based on Nomad Foods’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $628 million and net profit of $46 million. In comparison, last year the company earned revenue of $615 million and had a net profit of $41.1 million.

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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 Martin E. Franklin in April 2014 and is headquartered in Middlesex, the United Kingdom.