Jefferies Financial Group Lowers TORM (NASDAQ:TRMD) Price Target to $32.00

TORM (NASDAQ:TRMD) had its price target decreased by research analysts at Jefferies Financial Group from $37.00 to $32.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 35.08% from the company’s previous close.

TRMD has been the subject of several other research reports. Fearnley Fonds upgraded TORM to a “hold” rating in a report on Friday, September 27th. Evercore ISI boosted their target price on shares of TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd.

TORM Stock Performance

Shares of NASDAQ TRMD traded down $0.04 during trading on Thursday, hitting $23.69. 947,572 shares of the company were exchanged, compared to its average volume of 771,328. The firm’s fifty day moving average price is $30.60 and its 200 day moving average price is $34.80. TORM has a 1 year low of $22.77 and a 1 year high of $40.47. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24.

TORM (NASDAQ:TRMD) last issued its quarterly earnings data on Thursday, August 15th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.03. The firm had revenue of $437.70 million during the quarter, compared to the consensus estimate of $325.38 million. TORM had a return on equity of 34.45% and a net margin of 43.81%. During the same period in the previous year, the firm posted $2.14 EPS. As a group, analysts anticipate that TORM will post 6.41 EPS for the current year.

Institutional Investors Weigh In On TORM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRMD. Assetmark Inc. increased its position in shares of TORM by 76.9% in the third quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock worth $41,000 after acquiring an additional 516 shares in the last quarter. National Bank of Canada FI acquired a new position in TORM during the 2nd quarter worth $26,000. Vanguard Personalized Indexing Management LLC grew its position in TORM by 7.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,220 shares of the company’s stock worth $433,000 after purchasing an additional 811 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in TORM by 12.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,338 shares of the company’s stock worth $365,000 after purchasing an additional 1,030 shares during the period. Finally, Hibernia Wealth Partners LLC lifted its position in shares of TORM by 5.5% during the 3rd quarter. Hibernia Wealth Partners LLC now owns 20,974 shares of the company’s stock worth $717,000 after buying an additional 1,092 shares during the period. Institutional investors own 73.89% of the company’s stock.

TORM Company Profile

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.