Torm (NASDAQ:TRMD) Raised to “Buy” at Wall Street Zen

Torm (NASDAQ:TRMD) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other research firms also recently weighed in on TRMD. Fearnley Fonds raised Torm from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 13th. Evercore reissued an “outperform” rating and issued a $34.00 price target on shares of Torm in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Torm has a consensus rating of “Hold” and an average price target of $34.00.

Torm Stock Down 2.6%

TRMD stock opened at $28.24 on Friday. Torm has a 12-month low of $13.60 and a 12-month high of $31.76. The company has a quick ratio of 1.16, a current ratio of 1.33 and a debt-to-equity ratio of 0.32. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 9.94 and a beta of -0.01. The company has a 50 day moving average of $24.53 and a two-hundred day moving average of $22.53.

Torm (NASDAQ:TRMD) last issued its earnings results on Thursday, February 26th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. Torm had a net margin of 21.29% and a return on equity of 13.26%. The company had revenue of $347.60 million during the quarter, compared to analyst estimates of $236.21 million. On average, equities analysts anticipate that Torm will post 6.27 earnings per share for the current fiscal year.

Institutional Trading of Torm

A number of institutional investors and hedge funds have recently made changes to their positions in TRMD. Royal Bank of Canada increased its holdings in shares of Torm by 1,346.6% during the 1st quarter. Royal Bank of Canada now owns 87,285 shares of the company’s stock valued at $1,438,000 after acquiring an additional 81,251 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Torm by 39.9% in the 1st quarter. NewEdge Advisors LLC now owns 16,740 shares of the company’s stock worth $276,000 after purchasing an additional 4,776 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in Torm by 2.5% during the second quarter. SBI Securities Co. Ltd. now owns 69,258 shares of the company’s stock worth $1,154,000 after purchasing an additional 1,722 shares during the period. Geode Capital Management LLC boosted its position in Torm by 0.7% during the second quarter. Geode Capital Management LLC now owns 83,133 shares of the company’s stock worth $1,385,000 after purchasing an additional 611 shares during the period. Finally, Cetera Investment Advisers grew its holdings in Torm by 22.4% during the second quarter. Cetera Investment Advisers now owns 17,610 shares of the company’s stock valued at $293,000 after purchasing an additional 3,221 shares during the last quarter. Institutional investors and hedge funds own 73.89% of the company’s stock.

Torm Company Profile

Torm A/S (NASDAQ: TRMD) is an international shipping company specializing in the transportation of refined petroleum products. The firm owns and operates a modern fleet of product tankers, including both Handysize and MR vessels, which are designed to carry a broad range of clean petroleum cargoes such as gasoline, jet fuel and diesel. Torm’s core business revolves around voyage and time-charter contracts with major oil companies, trading houses and other energy sector clients around the world.

The company’s fleet is deployed on global trade routes, with particular focus on major refining and consumption regions in Europe, North America and Asia.