TORM (NASDAQ:TRMD) Upgraded by Fearnley Fonds to Hold

TORM (NASDAQ:TRMD) was upgraded by investment analysts at Fearnley Fonds to a “hold” rating in a report released on Friday, Zacks.com reports.

Separately, Evercore ISI lifted their price objective on TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd.

TORM Stock Performance

Shares of NASDAQ:TRMD opened at $34.19 on Friday. TORM has a 52 week low of $25.28 and a 52 week high of $40.47. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.94 and a current ratio of 3.18. The firm has a 50 day simple moving average of $36.24 and a 200 day simple moving average of $36.11.

TORM (NASDAQ:TRMD) last announced its quarterly earnings data on Thursday, August 15th. The company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. TORM had a return on equity of 36.06% and a net margin of 43.81%. The firm had revenue of $437.70 million during the quarter, compared to analyst estimates of $325.38 million. During the same period last year, the company posted $2.14 EPS. Research analysts forecast that TORM will post 7.1 EPS for the current fiscal year.

Hedge Funds Weigh In On TORM

Several hedge funds have recently bought and sold shares of the business. National Bank of Canada FI acquired a new position in shares of TORM during the 2nd quarter valued at about $26,000. Creekmur Asset Management LLC acquired a new stake in shares of TORM in the fourth quarter worth $27,000. Scarborough Advisors LLC acquired a new position in TORM in the 4th quarter valued at $37,000. Fifth Third Bancorp acquired a new position in TORM during the 2nd quarter worth $43,000. Finally, Syquant Capital Sas bought a new stake in TORM during the second quarter valued at about $46,000. 73.89% of the stock is owned by institutional investors and hedge funds.

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.