Weiss Ratings Reaffirms "Hold (C)" Rating for Torm (NASDAQ:TRMD)

Key Points

• Weiss Ratings has reiterated a "Hold (C)" rating for Torm (NASDAQ: TRMD) amid mixed reviews from other analysts, including a downgrade from "buy" by Pareto Securities.
• Torm's stock is currently priced at $20.27, a slight decline of 0.6%, with a consensus target price of $27.50 and a market cap of $1.91 billion.
• The shipping company reported quarterly earnings of $0.58 per share, exceeding the consensus estimate, and it possesses a robust return on equity of 15.73%.

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

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

Torm Stock Down 0.6%

NASDAQ:TRMD traded down $0.12 during mid-day trading on Wednesday, reaching $20.27. The stock had a trading volume of 464,500 shares, compared to its average volume of 657,649. The business's 50 day moving average is $21.16 and its 200 day moving average is $18.46. Torm has a fifty-two week low of $13.60 and a fifty-two week high of $32.31. The stock has a market cap of $1.91 billion, a P/E ratio of 6.14 and a beta of 0.08. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.57 and a quick ratio of 2.30.

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

Institutional Trading of Torm

A number of hedge funds have recently bought and sold shares of TRMD. Geode Capital Management LLC boosted its holdings in shares of Torm by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 83,133 shares of the company's stock worth $1,385,000 after purchasing an additional 611 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Torm by 5.4% in the 2nd quarter. NewEdge Advisors LLC now owns 17,650 shares of the company's stock worth $294,000 after buying an additional 910 shares during the period. Apollon Wealth Management LLC raised its position in shares of Torm by 9.1% in the 1st quarter. Apollon Wealth Management LLC now owns 11,691 shares of the company's stock worth $193,000 after acquiring an additional 972 shares in the last quarter. Glenorchy Capital Ltd raised its position in shares of Torm by 3.5% in the 2nd quarter. Glenorchy Capital Ltd now owns 29,670 shares of the company's stock worth $494,000 after acquiring an additional 1,003 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its position in shares of Torm by 2.5% in the 2nd quarter. SBI Securities Co. Ltd. now owns 69,258 shares of the company's stock worth $1,154,000 after acquiring an additional 1,722 shares in the last quarter. 73.89% of the stock is currently owned by institutional investors.

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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