Torm (NASDAQ:TRMD) Upgraded to Buy at Wall Street Zen

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

Several other brokerages have also recently commented on TRMD. Evercore reiterated an “outperform” rating and issued a $34.00 target price on shares of Torm in a report on Thursday, February 26th. Fearnley Fonds upgraded shares of Torm from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $34.00.

Torm Stock Down 2.6%

Shares of NASDAQ:TRMD opened at $28.24 on Friday. The firm has a market cap of $2.65 billion, a P/E ratio of 9.94 and a beta of -0.01. The company has a quick ratio of 1.16, a current ratio of 1.33 and a debt-to-equity ratio of 0.32. Torm has a 12-month low of $13.60 and a 12-month high of $31.76. The business has a fifty day simple moving average of $24.53 and a 200 day simple moving average of $22.50.

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

Institutional Trading of Torm

Large investors have recently modified their holdings of the stock. Royal Bank of Canada boosted its holdings in Torm by 1,346.6% in the first quarter. Royal Bank of Canada now owns 87,285 shares of the company’s stock worth $1,438,000 after acquiring an additional 81,251 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of 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 in the last quarter. SBI Securities Co. Ltd. grew its position in Torm by 2.5% in the 2nd quarter. SBI Securities Co. Ltd. now owns 69,258 shares of the company’s stock valued at $1,154,000 after purchasing an additional 1,722 shares during the period. Geode Capital Management LLC increased its stake in Torm by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 83,133 shares of the company’s stock valued at $1,385,000 after purchasing an additional 611 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in Torm by 22.4% during the second quarter. Cetera Investment Advisers now owns 17,610 shares of the company’s stock worth $293,000 after buying 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.