Evercore ISI Lowers TORM (NASDAQ:TRMD) Price Target to $23.00

TORM (NASDAQ:TRMD) had its target price reduced by equities researchers at Evercore ISI from $25.00 to $23.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price objective points to a potential upside of 46.22% from the company’s previous close.

Separately, Kepler Capital Markets cut TORM from a “hold” rating to a “strong sell” rating in a report on Thursday, March 27th.

TORM Stock Performance

TRMD opened at $15.73 on Tuesday. TORM has a twelve month low of $13.60 and a twelve month high of $40.47. The firm has a market capitalization of $1.48 billion, a PE ratio of 2.03 and a beta of 0.20. The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average price is $17.18 and its 200 day moving average price is $20.71.

Hedge Funds Weigh In On TORM

Institutional investors have recently bought and sold shares of the company. Jones Financial Companies Lllp increased its holdings in shares of TORM by 49.5% during the 4th quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company’s stock worth $114,000 after buying an additional 1,939 shares during the last quarter. Tower Research Capital LLC TRC grew its position in TORM by 8.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company’s stock worth $175,000 after acquiring an additional 711 shares during the period. Apollon Wealth Management LLC increased its stake in TORM by 26.1% during the fourth quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company’s stock worth $208,000 after acquiring an additional 2,219 shares during the last quarter. Aristides Capital LLC purchased a new stake in TORM in the fourth quarter valued at $216,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of TORM in the 1st quarter valued at $184,000. 73.89% of the stock is owned by hedge funds and other institutional investors.

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.