Torm's (TRMD) Hold (C) Rating Reaffirmed at Weiss Ratings

Key Points

• Torm's stock rating was reaffirmed as "hold (c)" by Weiss Ratings, following recent downgrades from other research firms such as Pareto Securities and Fearnley Fonds.
• The stock price of Torm fell by 2.8% on Friday, trading at $21.15, with an average price target from analysts of $27.50.
• Institutional investors hold 73.89% of Torm's stock, with notable investments from Norges Bank and Brevan Howard Capital Management.

Torm (NASDAQ:TRMD - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by analysts at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

A number of other research firms have also recently commented on TRMD. Pareto Securities cut shares of Torm from a "buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Evercore ISI set a $23.00 price objective on shares of Torm and gave the stock an "outperform" rating in a research note on Thursday, August 14th. Finally, Fearnley Fonds downgraded Torm from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Torm presently has an average rating of "Hold" and a consensus target price of $27.50.

Torm Stock Down 2.8%

TRMD stock traded down $0.60 on Friday, hitting $21.15. 370,363 shares of the company's stock were exchanged, compared to its average volume of 554,480. The firm has a 50 day moving average price of $21.47 and a two-hundred day moving average price of $18.80. Torm has a 12-month low of $13.60 and a 12-month high of $27.50. The stock has a market cap of $1.99 billion, a P/E ratio of 6.41 and a beta of 0.08. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.30 and a current ratio of 2.57.

Torm (NASDAQ:TRMD - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. Torm had a return on equity of 15.73% and a net margin of 24.90%.The business had revenue of $208.20 million during the quarter, compared to the consensus estimate of $207.58 million. As a group, equities research analysts expect that Torm will post 6.27 EPS for the current fiscal year.

Institutional Trading of Torm

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Torm during the second quarter worth $20,998,000. Brevan Howard Capital Management LP acquired a new stake in Torm during the 2nd quarter worth about $7,523,000. Lind Value II ApS purchased a new position in shares of Torm during the 2nd quarter valued at about $7,283,000. Vanguard Group Inc. raised its stake in shares of Torm by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 1,996,234 shares of the company's stock valued at $32,688,000 after buying an additional 111,194 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Torm in the 1st quarter valued at about $1,536,000. Institutional investors and hedge funds 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.

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