Torm (NASDAQ:TRMD) Rating Lowered to Hold at Wall Street Zen
by Teresa Graham · The Cerbat GemTorm (NASDAQ:TRMD – Get Free Report) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.
Separately, Evercore reiterated an “outperform” rating and issued a $34.00 price objective 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.00.
Read Our Latest Report on Torm
Torm Price Performance
Shares of TRMD stock opened at $29.10 on Friday. Torm has a 1 year low of $13.60 and a 1 year high of $31.76. The firm’s 50 day moving average is $26.65 and its 200-day moving average is $23.21. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 10.25 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 (NASDAQ:TRMD – Get Free Report) last released its quarterly 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. Torm had a net margin of 21.29% and a return on equity of 13.26%. The business had revenue of $352.60 million for the quarter, compared to analysts’ expectations of $236.21 million. Sell-side analysts forecast that Torm will post 6.27 EPS for the current fiscal year.
Institutional Investors Weigh In On Torm
Several institutional investors have recently modified their holdings of TRMD. Quarry LP bought a new stake in shares of Torm during the third quarter worth approximately $35,000. Tower Research Capital LLC TRC bought a new position in Torm in the second quarter valued at approximately $46,000. Wexford Capital LP bought a new position in Torm in the third quarter valued at approximately $120,000. Hilton Head Capital Partners LLC acquired a new stake in Torm during the 4th quarter worth $121,000. Finally, Virtus Advisers LLC grew its holdings in Torm by 356.4% during the 4th quarter. Virtus Advisers LLC now owns 9,858 shares of the company’s stock worth $193,000 after acquiring an additional 7,698 shares during the period. Institutional investors and hedge funds 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.