TORM (NASDAQ:TRMD) Stock Rating Upgraded by Fearnley Fonds

TORM (NASDAQ:TRMD - Get Free Report) was upgraded by investment analysts at Fearnley Fonds from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Tuesday, May 6th,Zacks.com reports.

A number of other equities research analysts have also commented on the company. Kepler Capital Markets lowered TORM from a "hold" rating to a "strong sell" rating in a research report on Thursday, March 27th. Evercore ISI dropped their price objective on TORM from $25.00 to $23.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd.

TORM Trading Up 0.7%

Shares of TRMD stock traded up $0.12 during mid-day trading on Tuesday, hitting $17.16. 561,008 shares of the company's stock were exchanged, compared to its average volume of 1,020,631. TORM has a fifty-two week low of $13.60 and a fifty-two week high of $40.47. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 2.22 and a beta of 0.12. The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51. The stock has a 50-day simple moving average of $16.69 and a two-hundred day simple moving average of $19.34.

TORM (NASDAQ:TRMD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.02). TORM had a net margin of 43.81% and a return on equity of 34.45%. The firm had revenue of $214.00 million for the quarter, compared to analyst estimates of $244.25 million. Equities analysts expect that TORM will post 6.27 EPS for the current fiscal year.

Hedge Funds Weigh In On TORM

Hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership raised its position in shares of TORM by 94.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,366,769 shares of the company's stock worth $84,585,000 after acquiring an additional 2,115,672 shares in the last quarter. Norges Bank purchased a new stake in shares of TORM during the fourth quarter worth about $21,273,000. Millennium Management LLC lifted its holdings in TORM by 439.0% in the fourth quarter. Millennium Management LLC now owns 430,399 shares of the company's stock worth $8,371,000 after buying an additional 350,555 shares during the period. Vanguard Group Inc. increased its stake in shares of TORM by 22.4% during the fourth quarter. Vanguard Group Inc. now owns 1,885,040 shares of the company's stock valued at $36,417,000 after purchasing an additional 345,463 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of TORM by 353.5% during the fourth quarter. Jane Street Group LLC now owns 187,998 shares of the company's stock valued at $3,613,000 after acquiring an additional 262,149 shares in the last quarter. Institutional investors own 73.89% of the company's stock.

TORM Company Profile

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.