Torm (NASDAQ:TRMD) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Torm from “buy” to “strong-buy,” while the broader analyst consensus remains “Buy” with an average price target of $38.00.
• Torm shares traded up 4.4% at $38.23, near their 52-week high of $38.73. The company has a $3.90 billion market capitalization and a low price-to-earnings ratio of 6.30.
• Institutional ownership stands at 73.89%, with several hedge funds increasing their positions. Torm’s latest quarter included $662.8 million in revenue, though earnings per share of $3.25 slightly missed estimates.

Torm (NASDAQ:TRMD - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

TRMD has been the subject of a number of other reports. Weiss Ratings upgraded shares of Torm from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, September 11th. Evercore restated an "outperform" rating and issued a $38.00 target price on shares of Torm in a report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $38.00.

Torm Trading Up 4.4%

Torm stock opened at $38.23 on Friday. Torm has a one year low of $19.30 and a one year high of $38.73. The business's fifty day moving average is $31.53 and its 200 day moving average is $30.11. The stock has a market capitalization of $3.90 billion, a PE ratio of 6.30 and a beta of 0.12. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.27 and a quick ratio of 1.97.

Torm (NASDAQ:TRMD - Get Free Report) last issued its earnings results on Wednesday, August 26th. The company reported $3.25 earnings per share for the quarter, missing analysts' consensus estimates of $3.31 by ($0.06). The business had revenue of $662.80 million during 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%.

Institutional Investors Weigh In On Torm

Several hedge funds and other institutional investors have recently modified their holdings of TRMD. Squarepoint Ops LLC increased its position in Torm by 180.7% in the second quarter. Squarepoint Ops LLC now owns 22,214 shares of the company's stock worth $579,000 after buying an additional 14,300 shares in the last quarter. Allianz Asset Management GmbH bought a new position in Torm in the 2nd quarter worth $267,000. denkapparat Operations GmbH boosted its holdings in Torm by 63.8% in the 2nd quarter. denkapparat Operations GmbH now owns 23,276 shares of the company's stock worth $607,000 after buying an additional 9,064 shares during the period. TD Waterhouse Canada Inc. increased its stake in Torm by 37.3% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 28,852 shares of the company's stock worth $757,000 after buying an additional 7,836 shares in the last quarter. Finally, Headlands Technologies LLC increased its stake in Torm by 75.3% in the 2nd quarter. Headlands Technologies LLC now owns 15,130 shares of the company's stock worth $394,000 after buying an additional 6,501 shares in the last quarter. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

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.

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