Wall Street Zen Downgrades Torm (NASDAQ:TRMD) to Buy

Torm (NASDAQ:TRMD) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Sunday.

Other equities analysts have also issued research reports about the stock. Pareto Securities lowered shares of Torm from a “hold” rating to a “hold” rating in a research report on Wednesday, May 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Torm in a report on Wednesday, July 15th. Finally, Evercore restated an “outperform” rating and issued a $37.00 price target on shares of Torm in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Torm Price Performance

Shares of NASDAQ:TRMD opened at $29.19 on Friday. The business has a 50 day moving average price of $28.94 and a 200 day moving average price of $28.60. Torm has a twelve month low of $18.24 and a twelve month high of $35.33. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 8.59 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 issued its quarterly earnings results on Wednesday, May 13th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.15). Torm had a return on equity of 15.81% and a net margin of 24.45%.The business had revenue of $402.00 million during the quarter, compared to the consensus estimate of $297.43 million.

Insider Buying and Selling

In related news, CEO Jacob Balslev Meldgaard sold 379,014 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $31.94, for a total value of $12,105,707.16. Following the completion of the transaction, the chief executive officer directly owned 348,411 shares of the company’s stock, valued at $11,128,247.34. This trade represents a 52.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Torm

A number of hedge funds have recently made changes to their positions in TRMD. Royal Bank of Canada boosted its position in shares of Torm by 1,346.6% during the 1st quarter. Royal Bank of Canada now owns 87,285 shares of the company’s stock valued at $1,438,000 after acquiring an additional 81,251 shares in the last quarter. NewEdge Advisors LLC increased its stake in Torm by 39.9% in the first quarter. NewEdge Advisors LLC now owns 16,740 shares of the company’s stock valued at $276,000 after acquiring an additional 4,776 shares during the period. Geode Capital Management LLC raised its position in Torm by 0.7% in the second 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. Cetera Investment Advisers raised its position in Torm by 22.4% in the second quarter. Cetera Investment Advisers now owns 17,610 shares of the company’s stock worth $293,000 after purchasing an additional 3,221 shares in the last quarter. Finally, Invesco Ltd. bought a new position in Torm during the second quarter worth about $190,000. Institutional investors and hedge funds own 73.89% of the company’s stock.

About Torm

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.