Torm (NASDAQ:TRMD) Stock Rating Lowered by Wall Street Zen

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

A number of other analysts also recently weighed in on the stock. Pareto Securities downgraded shares of Torm from a “hold” rating to a “hold” rating in a report on Wednesday, May 13th. Evercore reaffirmed an “outperform” rating and set a $38.00 price objective on shares of Torm in a research report on Wednesday, August 26th. Finally, Weiss Ratings raised shares of Torm from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Torm Stock Performance

NASDAQ:TRMD opened at $35.18 on Friday. The business’s 50-day simple moving average is $30.11 and its 200 day simple moving average is $29.63. Torm has a one year low of $19.30 and a one year high of $35.53. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 5.80 and a beta of 0.12. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.97 and a current ratio of 2.27.

Torm (NASDAQ:TRMD) last announced its earnings results on Wednesday, August 26th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate 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.

Hedge Funds Weigh In On Torm

Several hedge funds have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its position in Torm by 0.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,064,258 shares of the company’s stock valued at $86,032,000 after purchasing an additional 21,280 shares during the period. Vanguard Group Inc. grew its position in shares of Torm by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,341,185 shares of the company’s stock worth $46,629,000 after buying an additional 11,457 shares during the period. Norges Bank acquired a new stake in shares of Torm during the 4th quarter worth approximately $24,830,000. Renaissance Technologies LLC raised its stake in shares of Torm by 25.8% during the fourth quarter. Renaissance Technologies LLC now owns 536,425 shares of the company’s stock worth $10,503,000 after buying an additional 110,000 shares during the last quarter. Finally, Brevan Howard Capital Management LP bought a new stake in shares of Torm during the second quarter worth approximately $7,523,000. Institutional investors 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.