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 published on Saturday morning.

Other analysts have also issued research reports about the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Torm in a research note on Friday, April 17th. Pareto Securities lowered Torm from a “hold” rating to a “hold” rating in a research note on Wednesday. Finally, Evercore set a $35.00 price objective on Torm in a research note on Tuesday, April 21st. One equities research 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Torm Stock Up 1.5%

TRMD opened at $32.03 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.33 and a debt-to-equity ratio of 0.32. The firm has a market cap of $3.27 billion, a P/E ratio of 9.42 and a beta of 0.14. Torm has a 52 week low of $15.79 and a 52 week high of $35.33. The business’s fifty day simple moving average is $29.51 and its 200 day simple moving average is $25.21.

Torm (NASDAQ:TRMD) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.15). The company had revenue of $402.00 million for the quarter, compared to analyst estimates of $297.43 million. Torm had a net margin of 24.45% and a return on equity of 16.03%.

Torm Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th will be issued a $0.70 dividend. The ex-dividend date is Thursday, May 28th. This represents a $2.80 annualized dividend and a yield of 8.7%. Torm’s payout ratio is 60.00%.

Institutional Trading of Torm

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its holdings in Torm by 2.6% in the 3rd quarter. NewEdge Advisors LLC now owns 18,109 shares of the company’s stock valued at $373,000 after buying an additional 459 shares during the period. Vanguard Personalized Indexing Management LLC lifted 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 in the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Torm by 3.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 15,214 shares of the company’s stock valued at $431,000 after purchasing an additional 479 shares in the last quarter. Midwest Professional Planners LTD. lifted its stake in shares of Torm by 0.5% in the 1st quarter. Midwest Professional Planners LTD. now owns 91,505 shares of the company’s stock valued at $2,553,000 after purchasing an additional 495 shares in the last quarter. Finally, Geode Capital Management LLC lifted 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 in the last quarter. 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.