Wall Street Zen Upgrades Torm (NASDAQ:TRMD) to Strong-Buy

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 note issued to investors on Saturday.

Several other research firms have also weighed in on TRMD. Pareto Securities lowered Torm from a “hold” rating to a “hold” rating in a research report on Wednesday, May 13th. Evercore restated an “outperform” rating and set a $38.00 price objective on shares of Torm in a research report on Wednesday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Torm in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Torm Price Performance

Shares of NASDAQ:TRMD opened at $32.62 on Friday. The firm has a 50 day simple moving average of $29.40 and a 200 day simple moving average of $29.27. Torm has a 52 week low of $19.30 and a 52 week high of $35.33. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.97 and a current ratio of 2.27. The company has a market cap of $3.33 billion, a PE ratio of 5.37 and a beta of 0.09.

Torm (NASDAQ:TRMD) last posted its quarterly earnings data on Wednesday, August 26th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $3.31 by ($0.06). The firm had revenue of $662.80 million for the quarter, compared to analysts’ expectations of $499.01 million. Torm had a return on equity of 27.24% and a net margin of 35.51%.

Hedge Funds Weigh In On Torm

Several institutional investors and hedge funds have recently modified their holdings of TRMD. Royal Bank of Canada raised its holdings in shares of Torm by 94.5% during the first quarter. Royal Bank of Canada now owns 70,962 shares of the company’s stock worth $1,980,000 after acquiring an additional 34,482 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in Torm by 275.8% in the 4th 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. Bank of America Corp DE increased its position in Torm by 209.8% in the 1st quarter. Bank of America Corp DE now owns 130,421 shares of the company’s stock worth $3,639,000 after purchasing an additional 88,318 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Torm during the 2nd quarter worth about $2,632,000. Finally, Norges Bank acquired a new stake in shares of Torm during the 4th quarter valued at about $24,830,000. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

About Torm

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.