Torm (NASDAQ:TRMD) Lowered to "Buy" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Torm from “strong buy” to “buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $37.00.
• Torm shares opened at $29.49, with a market capitalization of approximately $3.01 billion and a P/E ratio of 8.67. The stock has traded between $18.24 and $35.33 over the past year.
• The company reported quarterly earnings of $1.18 per share, below the $1.33 consensus estimate, though revenue of $402 million exceeded expectations. CEO Jacob Balslev Meldgaard also sold 379,014 shares worth about $12.1 million.

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

Several other analysts also recently weighed in on the stock. Evercore reiterated an "outperform" rating and issued a $37.00 target price on shares of Torm in a report on Wednesday, July 22nd. Weiss Ratings restated a "hold (c)" rating on shares of Torm in a research note on Wednesday, July 15th. Finally, Pareto Securities lowered Torm from a "hold" rating to a "hold" rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $37.00.

Torm Price Performance

Torm stock opened at $29.49 on Friday. The company's fifty day moving average price is $28.92 and its 200 day moving average price is $28.51. Torm has a 1 year low of $18.24 and a 1 year high of $35.33. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 1.40. The stock has a market capitalization of $3.01 billion, a P/E ratio of 8.67 and a beta of 0.09.

Torm (NASDAQ:TRMD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $1.18 earnings per share for the quarter, missing analysts' consensus estimates of $1.33 by ($0.15). Torm had a net margin of 24.45% and a return on equity of 15.81%. The company had revenue of $402.00 million for the quarter, compared to analyst estimates of $297.43 million.

Insider Buying and Selling

In other Torm news, CEO Jacob Balslev Meldgaard sold 379,014 shares of the company's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $31.94, for a total transaction of $12,105,707.16. Following the sale, the chief executive officer owned 348,411 shares in the company, valued at $11,128,247.34. This represents a 52.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.37% of the stock is owned by insiders.

Institutional Trading of Torm

Large investors have recently made changes to their positions in the company. NewEdge Advisors LLC lifted its stake in Torm by 2.6% in 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 during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Torm by 1.5% in the 4th 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. Pictet Asset Management Holding SA raised its holdings in shares of Torm by 3.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 15,214 shares of the company's stock valued at $431,000 after purchasing an additional 479 shares in the last quarter. Midwest Professional Planners LTD. lifted its position in shares of Torm by 0.5% during the 1st quarter. Midwest Professional Planners LTD. now owns 91,505 shares of the company's stock worth $2,553,000 after purchasing an additional 495 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Torm by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 83,133 shares of the company's stock worth $1,385,000 after purchasing an additional 611 shares during the last quarter. 73.89% of the stock is currently owned by hedge funds and other 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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