TORM (NASDAQ:TRMD) Given New $32.00 Price Target at Jefferies Financial Group

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

Other analysts also recently issued research reports about the stock. Fearnley Fonds raised shares of TORM to a “hold” rating in a research note on Friday, September 27th. Evercore ISI upped their price target on TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd.

TORM Stock Down 0.2 %

Shares of NASDAQ:TRMD traded down $0.04 during mid-day trading on Thursday, reaching $23.69. The stock had a trading volume of 947,572 shares, compared to its average volume of 771,328. The business’s 50 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 announced its quarterly earnings results on Thursday, August 15th. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.03. The company had revenue of $437.70 million for the quarter, compared to analysts’ expectations of $325.38 million. TORM had a net margin of 43.81% and a return on equity of 34.45%. During the same quarter in the previous year, the business posted $2.14 earnings per share. Sell-side analysts expect that TORM will post 6.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TRMD. National Bank of Canada FI purchased a new stake in TORM during the 2nd quarter valued at about $26,000. Assetmark Inc. increased its holdings in TORM by 76.9% in the third quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock valued at $41,000 after buying an additional 516 shares during the last quarter. Fifth Third Bancorp purchased a new stake in TORM during the second quarter worth approximately $43,000. Syquant Capital Sas acquired a new stake in TORM during the 2nd quarter worth $46,000. Finally, Headlands Technologies LLC acquired a new stake in shares of TORM in the 1st quarter valued at about $51,000. 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.