Torm (NASDAQ:TRMD) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Torm (NASDAQ:TRMD) from a strong-buy rating to a buy rating in a research report sent to investors on Sunday morning.

A number of other equities research analysts have also weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Torm in a research note on Wednesday, July 15th. Evercore restated an “outperform” rating and issued a $37.00 price target on shares of Torm in a research note on Wednesday, July 22nd. Finally, Pareto Securities lowered Torm from a “hold” rating to a “hold” rating in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Torm currently has an average rating of “Moderate Buy” and an average price target of $37.00.

Torm Stock Performance

Shares of TRMD stock opened at $28.63 on Friday. The company has a 50 day moving average price of $28.95 and a 200-day moving average price of $28.65. Torm has a 52 week low of $18.64 and a 52 week high of $35.33. The firm has a market capitalization of $2.92 billion, a PE ratio of 8.42 and a beta of 0.09. The company has a quick ratio of 1.20, a current ratio of 1.40 and a debt-to-equity ratio of 0.35.

Torm (NASDAQ:TRMD) last released its quarterly earnings data on Wednesday, May 13th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.15). Torm had a net margin of 24.45% and a return on equity of 15.81%. The company had revenue of $402.00 million for the quarter, compared to analysts’ expectations of $297.43 million.

Insider Activity

In related news, CEO Jacob Balslev Meldgaard sold 379,014 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $31.94, for a total transaction of $12,105,707.16. Following the completion of the sale, the chief executive officer directly owned 348,411 shares in the company, valued at approximately $11,128,247.34. The trade was a 52.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TRMD. NewEdge Advisors LLC boosted its stake in shares of Torm by 2.6% in the third quarter. NewEdge Advisors LLC now owns 18,109 shares of the company’s stock worth $373,000 after acquiring an additional 459 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in Torm by 1.5% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 31,391 shares of the company’s stock valued at $615,000 after purchasing an additional 477 shares during the period. Pictet Asset Management Holding SA lifted its holdings in Torm by 3.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 15,214 shares of the company’s stock worth $431,000 after purchasing an additional 479 shares in the last quarter. Midwest Professional Planners LTD. lifted its holdings in Torm by 0.5% in the 1st quarter. Midwest Professional Planners LTD. now owns 91,505 shares of the company’s stock worth $2,553,000 after purchasing an additional 495 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in 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 during the period. 73.89% of the stock is currently owned by institutional investors.

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.