Torm (NASDAQ:TRMD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Torm (NASDAQ:TRMD) from a buy rating to a strong-buy rating in a report released on Saturday morning,Wall Street Zen reports.

Other equities analysts also recently issued reports about the stock. Weiss Ratings upgraded shares of Torm from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 11th. Evercore reiterated an “outperform” rating and issued a $38.00 price target on shares of Torm in a research note on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Torm presently has an average rating of “Buy” and a consensus price target of $38.00.

Torm Price Performance

NASDAQ:TRMD opened at $37.12 on Friday. 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 stock’s 50-day simple moving average is $31.70 and its 200 day simple moving average is $30.15. The company has a market cap of $3.79 billion, a P/E ratio of 6.12 and a beta of 0.12. Torm has a 52-week low of $19.30 and a 52-week high of $38.73.

Torm (NASDAQ:TRMD) last issued its quarterly earnings results on Wednesday, August 26th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.31 by ($0.06). The company had revenue of $662.80 million for the quarter, compared to analyst estimates of $499.01 million. Torm had a net margin of 35.51% and a return on equity of 27.24%.

Torm Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be given a $2.40 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This is a positive change from Torm’s previous quarterly dividend of $0.70. This represents a $9.60 dividend on an annualized basis and a dividend yield of 25.9%. Torm’s payout ratio is 115.49%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Pictet Asset Management Holding SA lifted its holdings in shares of Torm by 3.3% during the first quarter. Pictet Asset Management Holding SA now owns 15,214 shares of the company’s stock worth $431,000 after buying an additional 479 shares in the last quarter. Midwest Professional Planners LTD. increased its position in Torm by 0.5% during the first quarter. Midwest Professional Planners LTD. now owns 91,505 shares of the company’s stock worth $2,553,000 after acquiring an additional 495 shares during the period. Optiver Holding B.V. bought a new position in Torm during the first quarter worth about $67,000. PSI Advisors LLC raised its stake in Torm by 6.6% in the 4th quarter. PSI Advisors LLC now owns 59,701 shares of the company’s stock worth $1,169,000 after purchasing an additional 3,707 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd raised its stake in Torm by 33.8% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 19,340 shares of the company’s stock worth $540,000 after purchasing an additional 4,882 shares in the last quarter. 73.89% of the stock is owned by institutional investors and hedge funds.

Torm Company Profile

TORM plc is an international product tanker company that transports refined oil products and other energy-related cargoes by sea. Its vessels carry products such as gasoline, jet fuel, diesel and other clean petroleum products between production, storage and consumption markets.

The company operates a fleet of product tankers across several size categories, including long-range, medium-range and Handysize vessels. TORM provides seaborne transportation services to oil companies, trading houses and other commercial customers, with operations serving major shipping routes and energy markets worldwide.

TORM traces its history to 1889 and is headquartered in Copenhagen, Denmark.