Evercore ISI Has Lowered Expectations for TORM (NASDAQ:TRMD) Stock Price

TORM (NASDAQ:TRMD - Get Free Report) had its price target decreased by stock analysts at Evercore ISI from $25.00 to $23.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Evercore ISI's price objective would indicate a potential upside of 39.06% from the company's current price.

Separately, Kepler Capital Markets lowered shares of TORM from a "hold" rating to a "strong sell" rating in a report on Thursday, March 27th.

TORM Stock Up 3.0 %

NASDAQ TRMD traded up $0.48 during trading on Tuesday, reaching $16.54. 513,418 shares of the company's stock traded hands, compared to its average volume of 972,895. TORM has a 12-month low of $13.60 and a 12-month high of $40.47. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 2.14 and a beta of 0.20. The company's 50 day simple moving average is $17.06 and its two-hundred day simple moving average is $20.40.

Institutional Trading of TORM

A number of institutional investors have recently modified their holdings of TRMD. Exchange Traded Concepts LLC purchased a new stake in TORM during the fourth quarter valued at approximately $312,000. Franklin Resources Inc. purchased a new stake in shares of TORM during the 3rd quarter valued at $1,047,000. PSI Advisors LLC lifted its holdings in shares of TORM by 139.8% during the 4th quarter. PSI Advisors LLC now owns 42,367 shares of the company's stock valued at $824,000 after purchasing an additional 24,702 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of TORM in the 4th quarter worth $301,000. Finally, Vanguard Group Inc. grew its stake in TORM by 22.4% during the 4th quarter. Vanguard Group Inc. now owns 1,885,040 shares of the company's stock worth $36,417,000 after buying an additional 345,463 shares during the last quarter. 73.89% of the stock is currently owned by institutional investors.

TORM Company Profile

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.