Torm (NASDAQ:TRMD) Raised to “Buy” at Wall Street Zen

Torm (NASDAQ:TRMD) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

Separately, Evercore restated an “outperform” rating and issued a $34.00 target price on shares of Torm in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Torm Price Performance

Shares of NASDAQ:TRMD opened at $30.35 on Friday. The firm has a 50 day moving average of $27.35 and a 200-day moving average of $23.52. The stock has a market capitalization of $3.10 billion, a PE ratio of 10.69 and a beta of 0.02. The company has a current ratio of 1.33, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. Torm has a 12 month low of $14.92 and a 12 month high of $31.76.

Torm (NASDAQ:TRMD) last issued its earnings results on Thursday, February 26th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.83 by $0.04. The company had revenue of $352.60 million during the quarter, compared to analysts’ expectations of $236.21 million. Torm had a net margin of 21.29% and a return on equity of 13.26%. On average, equities research analysts predict that Torm will post 6.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Torm

Several hedge funds and other institutional investors have recently made changes to their positions in TRMD. Norges Bank bought a new stake in shares of Torm during the 4th quarter valued at approximately $24,830,000. Brevan Howard Capital Management LP bought a new stake in shares of Torm during the 2nd quarter valued at approximately $7,523,000. Marnell Management LLC bought a new stake in shares of Torm during the 4th quarter valued at approximately $4,815,000. Fearnley Asset Management AS bought a new stake in shares of Torm during the 4th quarter valued at approximately $4,048,000. Finally, Barclays PLC grew its holdings in shares of Torm by 613.2% during the 3rd quarter. Barclays PLC now owns 206,508 shares of the company’s stock valued at $4,258,000 after purchasing an additional 177,551 shares during the last quarter. 73.89% of the stock is 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.