Torm (NASDAQ:TRMD) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Torm (NASDAQ:TRMD) from a "hold" to a "buy" and Fearnley Fonds moved to "strong-buy," though MarketBeat shows a consensus average rating of "Hold" with a $34.00 target price.
• Torm beat quarterly estimates with EPS of $0.87 vs. $0.83 and revenue of $347.6M vs. $236.2M, and the company trades at a P/E of 9.94 with a market cap of about $2.65 billion.
• Institutional investors own ~73.9% of Torm, with Vanguard, Renaissance, Millennium increasing holdings and Norges Bank and Brevan Howard establishing positions recently.

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

A number of other equities research analysts have also recently weighed in on TRMD. Fearnley Fonds upgraded Torm from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 13th. Evercore reiterated an "outperform" rating and issued a $34.00 price objective on shares of Torm in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Torm presently has an average rating of "Hold" and a consensus target price of $34.00.

Torm Trading Down 2.6%

Torm stock opened at $28.24 on Friday. Torm has a 52 week low of $13.60 and a 52 week high of $31.76. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 1.33. The stock has a market capitalization of $2.65 billion, a P/E ratio of 9.94 and a beta of -0.01. The stock has a 50-day simple moving average of $24.53 and a 200 day simple moving average of $22.50.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TRMD. Vanguard Group Inc. increased its holdings in Torm by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 2,341,185 shares of the company's stock worth $46,629,000 after purchasing an additional 11,457 shares in the last quarter. Norges Bank bought a new stake in shares of Torm during the second quarter worth about $20,998,000. Renaissance Technologies LLC grew its holdings in shares of Torm by 25.8% during the fourth quarter. Renaissance Technologies LLC now owns 536,425 shares of the company's stock worth $10,503,000 after purchasing an additional 110,000 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in shares of Torm in the second quarter valued at approximately $7,523,000. Finally, Millennium Management LLC raised its holdings in Torm by 119.5% in the 4th quarter. Millennium Management LLC now owns 252,811 shares of the company's stock valued at $4,950,000 after buying an additional 137,648 shares during the last quarter. Institutional investors 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.

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