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

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

Several other research firms also recently issued reports on TRMD. Pareto Securities downgraded shares of Torm from a “hold” rating to a “hold” rating in a research note on Wednesday, May 13th. Evercore set a $35.00 price target on shares of Torm in a research note on Tuesday, April 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Torm in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Torm presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Torm Stock Performance

Torm stock opened at $30.40 on Friday. Torm has a 12-month low of $16.36 and a 12-month high of $35.33. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 8.94 and a beta of 0.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.40 and a quick ratio of 1.20. The firm’s fifty day moving average price is $30.63 and its 200 day moving average price is $26.24.

Torm (NASDAQ:TRMD) last released its quarterly earnings results on Wednesday, May 13th. The company reported $1.18 earnings per share (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 firm had revenue of $402.00 million for the quarter, compared to analysts’ expectations of $297.43 million.

Insider Buying and Selling at Torm

In other news, CEO Jacob Balslev Meldgaard sold 170,133 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $32.30, for a total value of $5,495,295.90. Following the completion of the sale, the chief executive officer owned 348,411 shares of the company’s stock, valued at approximately $11,253,675.30. The trade was a 32.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Torm

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP bought a new stake in shares of Torm in the 3rd quarter worth about $35,000. Optiver Holding B.V. bought a new stake in shares of Torm in the 1st quarter worth about $67,000. Tower Research Capital LLC TRC bought a new stake in shares of Torm in the 2nd quarter worth about $46,000. Wexford Capital LP bought a new stake in shares of Torm in the 3rd quarter worth about $120,000. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of Torm in the 4th quarter worth about $121,000. 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.