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

Key Points

• Wall Street Zen upgraded Torm from a "hold" to a "buy," while Evercore reaffirmed an "outperform" rating with a $34 target, leaving the consensus at a Moderate Buy and an average target of $34.
• Torm beat quarterly estimates with $0.87 EPS vs. $0.83 expected and revenue of $352.6 million vs. $236.21 million, and analysts forecast about 6.27 EPS for the current fiscal year.
• Shares opened at $29.32 (52-week range $14.92–$31.76) with a market cap of $2.99B and P/E of 10.32, and institutional investors own 73.89% of the stock with notable purchases by Vanguard, Norges Bank, Renaissance and Millennium.

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

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

Torm Trading Down 1.6%

Shares of Torm stock opened at $29.32 on Friday. Torm has a fifty-two week low of $14.92 and a fifty-two week high of $31.76. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 10.32 and a beta of 0.02. The company has a quick ratio of 1.16, a current ratio of 1.33 and a debt-to-equity ratio of 0.32. The business has a fifty day simple moving average of $27.23 and a 200-day simple moving average of $23.45.

Torm (NASDAQ:TRMD - Get Free Report) last announced its earnings results on Thursday, February 26th. The company reported $0.87 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 business had revenue of $352.60 million during the quarter, compared to the consensus estimate of $236.21 million. On average, equities analysts forecast that Torm will post 6.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TRMD. Vanguard Group Inc. increased its holdings in shares of Torm by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,341,185 shares of the company's stock valued at $46,629,000 after acquiring an additional 11,457 shares during the last quarter. Norges Bank bought a new stake in shares of Torm in the 4th quarter worth approximately $24,830,000. Renaissance Technologies LLC lifted its position in shares of Torm by 25.8% in the 4th quarter. Renaissance Technologies LLC now owns 536,425 shares of the company's stock worth $10,503,000 after acquiring an additional 110,000 shares during the period. Brevan Howard Capital Management LP bought a new stake in shares of Torm in the 2nd quarter worth approximately $7,523,000. Finally, Millennium Management LLC lifted its position in shares of Torm by 119.5% during the 4th quarter. Millennium Management LLC now owns 252,811 shares of the company's stock worth $4,950,000 after buying an additional 137,648 shares during the period. 73.89% of the stock is owned by institutional investors and hedge funds.

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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