Torm (NASDAQ:TRMD) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of Torm (NASDAQ:TRMD) from a buy rating to a strong-buy rating in a report issued on Saturday morning.

TRMD has been the topic of several other reports. Evercore reaffirmed an “outperform” rating and set a $37.00 target price on shares of Torm in a research report on Wednesday, July 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Torm in a report on Wednesday, July 15th. Finally, Pareto Securities lowered Torm from a “hold” rating to a “hold” rating in a research note on Wednesday, May 13th. One equities research 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Torm Stock Performance

Shares of TRMD stock opened at $30.31 on Friday. The business’s fifty day simple moving average is $28.92 and its 200-day simple moving average is $28.29. The company has a market cap of $3.09 billion, a PE ratio of 8.91 and a beta of 0.10. The company has a current ratio of 1.40, a quick ratio of 1.20 and a debt-to-equity ratio of 0.35. Torm has a 12-month low of $18.00 and a 12-month high of $35.33.

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

Torm Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $2.80 dividend on an annualized basis and a yield of 9.2%. Torm’s dividend payout ratio (DPR) is currently 60.00%.

Insider Buying and Selling

In other Torm news, CEO Jacob Balslev Meldgaard sold 170,133 shares of Torm stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $32.30, for a total transaction of $5,495,295.90. Following the completion of the sale, the chief executive officer directly owned 348,411 shares in the company, valued at approximately $11,253,675.30. The trade was a 32.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TRMD. Quarry LP acquired a new position in Torm during the third quarter valued at $35,000. Tower Research Capital LLC TRC acquired a new stake in Torm during the 2nd quarter worth about $46,000. Optiver Holding B.V. acquired a new stake in Torm during the 1st quarter worth about $67,000. Wexford Capital LP purchased a new position in shares of Torm during the 3rd quarter valued at about $120,000. Finally, Hilton Head Capital Partners LLC purchased a new position in shares of Torm during the 4th quarter valued at about $121,000. Hedge funds and other institutional investors own 73.89% of the company’s stock.

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.