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

Key Points

• Wall Street Zen upgraded Torm to “strong buy” from “buy.” Overall, analysts have a “Moderate Buy” consensus rating with an average price target of $37.00.
• Torm shares opened at $30.31, with a market capitalization of $3.09 billion and a price-to-earnings ratio of 8.91. The company recently reported quarterly revenue of $402 million, exceeding estimates, though earnings per share of $1.18 fell short of the $1.33 consensus.
• CEO Jacob Balslev Meldgaard sold 170,133 shares for approximately $5.5 million, reducing his direct stake by 32.81%. Institutional investors and hedge funds own 73.89% of Torm’s stock.

Torm (NASDAQ:TRMD - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday.

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

Torm Stock Up 0.2%

TRMD opened at $30.31 on Friday. Torm has a fifty-two week low of $18.00 and a fifty-two week 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 company has a fifty day moving average of $28.92 and a two-hundred day moving average of $28.29. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 8.91 and a beta of 0.10.

Torm (NASDAQ:TRMD - Get Free Report) last issued its quarterly earnings data 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 return on equity of 15.81% and a net margin of 24.45%.The firm had revenue of $402.00 million during the quarter, compared to analyst estimates of $297.43 million.

Insider Buying and Selling

In other Torm news, CEO Jacob Balslev Meldgaard sold 170,133 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $32.30, for a total transaction of $5,495,295.90. Following the completion of the sale, the chief executive officer directly owned 348,411 shares in the company, valued at approximately $11,253,675.30. The trade was a 32.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.37% of the company's stock.

Institutional Trading of Torm

A number of institutional investors have recently made changes to their positions in TRMD. Quarry LP acquired a new position in Torm in the 3rd quarter valued at $35,000. Tower Research Capital LLC TRC purchased a new position in shares of Torm in the second quarter worth about $46,000. Optiver Holding B.V. purchased a new position in shares of Torm in the first quarter worth about $67,000. Wexford Capital LP acquired a new position in Torm during the third quarter worth about $120,000. Finally, Hilton Head Capital Partners LLC acquired a new position in Torm during the fourth quarter worth about $121,000. 73.89% of the stock is owned by institutional investors and hedge funds.

About Torm

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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