Jefferies Financial Group Has Lowered Expectations for TORM (NASDAQ:TRMD) Stock Price

TORM (NASDAQ:TRMD) had its price target reduced by equities research analysts at Jefferies Financial Group from $37.00 to $32.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s price target would suggest a potential upside of 40.04% from the company’s previous close.

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

TORM Price Performance

Shares of NASDAQ:TRMD opened at $22.85 on Thursday. The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51. TORM has a 1 year low of $22.72 and a 1 year high of $40.47. The firm has a fifty day moving average price of $30.40 and a 200 day moving average price of $34.72.

TORM (NASDAQ:TRMD) last released its quarterly earnings results 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. TORM had a return on equity of 34.45% and a net margin of 43.81%. The company had revenue of $437.70 million during the quarter, compared to the consensus estimate of $325.38 million. During the same quarter in the prior year, the company posted $2.14 EPS. On average, equities analysts expect that TORM will post 6.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TORM

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI bought a new stake in TORM in the 2nd quarter valued at $26,000. Fifth Third Bancorp bought a new stake in shares of TORM in the second quarter valued at about $43,000. Syquant Capital Sas acquired a new stake in TORM during the second quarter worth about $46,000. Assetmark Inc. increased its stake in TORM by 76.9% during the third quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock valued at $41,000 after acquiring an additional 516 shares during the period. Finally, Headlands Technologies LLC acquired a new position in TORM in the 1st quarter valued at approximately $51,000. Institutional investors 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.