Torm (NASDAQ:TRMD) Rating Increased to Strong-Buy at Fearnley Fonds

Torm (NASDAQ:TRMD) was upgraded by investment analysts at Fearnley Fonds from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Several other research analysts also recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Torm in a report on Wednesday, October 8th. Evercore ISI set a $23.00 price objective on Torm and gave the company an “outperform” rating in a research report on Thursday, August 14th. Finally, Pareto Securities downgraded Torm from a “buy” rating to a “hold” rating in a research report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $23.00.

Torm Price Performance

Shares of TRMD traded up $0.02 during trading hours on Thursday, reaching $23.02. 683,213 shares of the company traded hands, compared to its average volume of 483,709. The company has a quick ratio of 2.07, a current ratio of 2.37 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $2.16 billion, a PE ratio of 8.46 and a beta of 0.06. Torm has a fifty-two week low of $13.60 and a fifty-two week high of $24.38. The stock has a fifty day simple moving average of $21.72 and a 200 day simple moving average of $19.52.

Torm (NASDAQ:TRMD) last announced its earnings results on Thursday, November 6th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.17. The firm had revenue of $342.60 million during the quarter, compared to the consensus estimate of $258.49 million. Torm had a net margin of 21.37% and a return on equity of 13.03%. As a group, research analysts predict that Torm will post 6.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC acquired a new stake in shares of Torm in the second quarter valued at about $46,000. Wealth Preservation Advisors LLC acquired a new stake in Torm in the first quarter valued at approximately $69,000. CWM LLC raised its stake in shares of Torm by 1,712.3% during the first quarter. CWM LLC now owns 5,292 shares of the company’s stock valued at $87,000 after purchasing an additional 5,000 shares during the period. Weaver Consulting Group acquired a new position in Torm in the 2nd quarter worth $167,000. Finally, Larson Financial Group LLC lifted its stake in shares of Torm by 4,694.8% in the first quarter. Larson Financial Group LLC now owns 10,213 shares of the company’s stock worth $168,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 73.89% of the company’s stock.

About Torm

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.