Torm (NASDAQ:TRMD) Stock Rating Upgraded by Wall Street Zen

Torm (NASDAQ:TRMD) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

TRMD has been the topic of several other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Torm in a report on Wednesday, July 15th. Evercore reaffirmed an “outperform” rating and issued a $37.00 price target on shares of Torm in a research report on Wednesday, July 22nd. Finally, Pareto Securities cut shares of Torm from a “hold” rating to a “hold” rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Torm Price Performance

Shares of TRMD stock opened at $30.31 on Friday. Torm has a twelve month low of $18.00 and a twelve month high of $35.33. The company has a current ratio of 1.40, a quick ratio of 1.20 and a debt-to-equity ratio of 0.35. The stock has a fifty day simple moving average of $28.92 and a two-hundred day simple moving average of $28.33. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 8.91 and a beta of 0.09.

Torm (NASDAQ:TRMD) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.15). The firm had revenue of $402.00 million for the quarter, compared to analysts’ expectations of $297.43 million. Torm had a net margin of 24.45% and a return on equity of 15.81%.

Insider Buying and Selling at Torm

In other news, CEO Jacob Balslev Meldgaard sold 170,133 shares of Torm stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $32.30, for a total value of $5,495,295.90. Following the transaction, the chief executive officer owned 348,411 shares of the company’s stock, valued at $11,253,675.30. The trade was a 32.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Torm

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Torm by 275.8% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 91,286 shares of the company’s stock worth $1,785,000 after purchasing an additional 66,992 shares during the last quarter. Norges Bank purchased a new stake in shares of Torm during the 4th quarter valued at $24,830,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Torm by 153.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 78,203 shares of the company’s stock valued at $2,190,000 after purchasing an additional 47,386 shares during the last quarter. Folketrygdfondet boosted its position in shares of Torm by 174.0% in the 4th quarter. Folketrygdfondet now owns 238,662 shares of the company’s stock worth $4,673,000 after purchasing an additional 151,563 shares in the last quarter. Finally, Marnell Management LLC acquired a new stake in shares of Torm in the 4th quarter worth $4,815,000. Hedge funds and other institutional investors 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.