Torm (NASDAQ:TRMD) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Torm (NASDAQ:TRMD) from a "buy" to a "hold" in a note to investors.
• Evercore reaffirmed an Outperform rating and set a $34 price target, while the consensus across analysts remains a "Moderate Buy" with a $34 average target.
• Torm beat quarterly expectations (EPS $0.87 vs. $0.83; revenue $352.6M vs. $236.2M) and trades at a PE of 10.25 with a net margin of 21.29%.

Torm (NASDAQ:TRMD - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

Separately, Evercore reaffirmed an "outperform" rating and set a $34.00 price objective on shares of Torm in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $34.00.

Torm Price Performance

Shares of NASDAQ TRMD opened at $29.10 on Friday. The firm has a fifty day simple moving average of $26.65 and a two-hundred day simple moving average of $23.21. Torm has a 12 month low of $13.60 and a 12 month high of $31.76. The company has a current ratio of 1.33, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $2.97 billion, a PE ratio of 10.25 and a beta of 0.02.

Torm (NASDAQ:TRMD - Get Free Report) last announced its earnings results on Thursday, February 26th. The company reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. Torm had a net margin of 21.29% and a return on equity of 13.26%. The firm had revenue of $352.60 million for the quarter, compared to analyst estimates of $236.21 million. Equities analysts expect that Torm will post 6.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TRMD. NewEdge Advisors LLC boosted its stake in Torm by 2.6% during the third quarter. NewEdge Advisors LLC now owns 18,109 shares of the company's stock worth $373,000 after acquiring an additional 459 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of Torm by 1.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 31,391 shares of the company's stock valued at $615,000 after purchasing an additional 477 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Torm by 0.7% during the second 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. Glenorchy Capital Ltd lifted its holdings in shares of Torm by 3.5% during the second quarter. Glenorchy Capital Ltd now owns 29,670 shares of the company's stock valued at $494,000 after purchasing an additional 1,003 shares during the last quarter. Finally, Virtu Financial LLC lifted its holdings in shares of Torm by 6.7% during the fourth quarter. Virtu Financial LLC now owns 17,170 shares of the company's stock valued at $336,000 after purchasing an additional 1,076 shares during the last quarter. 73.89% of the stock is currently owned by institutional investors.

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.

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