Torm (NASDAQ:TRMD) Sets New 12-Month High – Time to Buy?

Shares of Torm Plc (NASDAQ:TRMD) reached a new 52-week high on Tuesday . The company traded as high as $27.55 and last traded at $27.4890, with a volume of 102949 shares trading hands. The stock had previously closed at $27.27.

Wall Street Analysts Forecast Growth

Separately, Fearnley Fonds raised Torm from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $23.00.

Torm Trading Up 1.0%

The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 10.14 and a beta of 0.04. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.07 and a current ratio of 2.37. The firm has a fifty day moving average price of $22.77 and a 200-day moving average price of $21.91.

Institutional Investors Weigh In On Torm

A number of hedge funds have recently made changes to their positions in TRMD. NewEdge Advisors LLC boosted its holdings in Torm by 2.6% in the third quarter. NewEdge Advisors LLC now owns 18,109 shares of the company’s stock valued at $373,000 after acquiring an additional 459 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Torm by 1.5% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 31,391 shares of the company’s stock valued at $615,000 after purchasing an additional 477 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Torm by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 83,133 shares of the company’s stock valued at $1,385,000 after purchasing an additional 611 shares during the last quarter. Glenorchy Capital Ltd increased its position in shares of Torm by 3.5% during the second quarter. Glenorchy Capital Ltd now owns 29,670 shares of the company’s stock worth $494,000 after buying an additional 1,003 shares during the period. Finally, Virtu Financial LLC raised its stake in Torm by 6.7% during the fourth quarter. Virtu Financial LLC now owns 17,170 shares of the company’s stock worth $336,000 after buying an additional 1,076 shares during the last quarter. 73.89% of the stock is currently owned by institutional investors and hedge funds.

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.