Wall Street Zen Upgrades Torm (NASDAQ:TRMD) to Strong-Buy

Torm (NASDAQ:TRMD) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday, Wall Street Zen reports.

Several other equities analysts also recently commented on TRMD. Weiss Ratings raised Torm from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 11th. Evercore reiterated an “outperform” rating and set a $38.00 target price on shares of Torm in a research report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Torm presently has an average rating of “Buy” and an average target price of $38.00.

Torm Price Performance

Shares of NASDAQ TRMD opened at $38.23 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.27 and a quick ratio of 1.97. The company has a market cap of $3.90 billion, a P/E ratio of 6.30 and a beta of 0.12. Torm has a 1 year low of $19.30 and a 1 year high of $38.73. The firm has a 50-day simple moving average of $31.53 and a two-hundred day simple moving average of $30.11.

Torm (NASDAQ:TRMD) last released its earnings results on Wednesday, August 26th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.06). Torm had a net margin of 35.51% and a return on equity of 27.24%. The business had revenue of $662.80 million for the quarter, compared to the consensus estimate of $499.01 million.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TRMD. Pictet Asset Management Holding SA lifted its holdings in shares of Torm by 3.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 15,214 shares of the company’s stock valued at $431,000 after purchasing an additional 479 shares during the last quarter. Midwest Professional Planners LTD. grew its stake in Torm by 0.5% during the 1st quarter. Midwest Professional Planners LTD. now owns 91,505 shares of the company’s stock worth $2,553,000 after buying an additional 495 shares during the last quarter. Optiver Holding B.V. purchased a new position in Torm during the 1st quarter worth $67,000. PSI Advisors LLC increased its position in Torm by 6.6% during the 4th quarter. PSI Advisors LLC now owns 59,701 shares of the company’s stock valued at $1,169,000 after buying an additional 3,707 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd increased its position in Torm by 33.8% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 19,340 shares of the company’s stock valued at $540,000 after buying an additional 4,882 shares in the last quarter. Institutional investors own 73.89% of the company’s stock.

Torm Company Profile

TORM plc is an international product tanker company that transports refined oil products and other energy-related cargoes by sea. Its vessels carry products such as gasoline, jet fuel, diesel and other clean petroleum products between production, storage and consumption markets.

The company operates a fleet of product tankers across several size categories, including long-range, medium-range and Handysize vessels. TORM provides seaborne transportation services to oil companies, trading houses and other commercial customers, with operations serving major shipping routes and energy markets worldwide.

TORM traces its history to 1889 and is headquartered in Copenhagen, Denmark.