TORM (NASDAQ:TRMD) Shares Gap Up – Still a Buy?

TORM plc (NASDAQ:TRMD) gapped up before the market opened on Thursday . The stock had previously closed at $17.35, but opened at $18.87. TORM shares last traded at $19.45, with a volume of 664,846 shares traded.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group lowered their price objective on shares of TORM from $37.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, November 14th.

TORM Stock Performance

The stock has a market cap of $1.80 billion, a P/E ratio of 2.48 and a beta of 0.14. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. The stock’s 50 day simple moving average is $19.81 and its two-hundred day simple moving average is $25.28.

TORM (NASDAQ:TRMD) last posted its quarterly earnings data on Thursday, March 6th. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.06). TORM had a net margin of 43.81% and a return on equity of 34.45%. As a group, research analysts forecast that TORM plc will post 6.27 EPS for the current year.

Institutional Investors Weigh In On TORM

A number of hedge funds and other institutional investors have recently bought and sold shares of TRMD. Arrowstreet Capital Limited Partnership raised its holdings in shares of TORM by 94.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,366,769 shares of the company’s stock valued at $84,585,000 after purchasing an additional 2,115,672 shares during the last quarter. Vanguard Group Inc. increased its stake in TORM by 22.4% in the 4th quarter. Vanguard Group Inc. now owns 1,885,040 shares of the company’s stock valued at $36,417,000 after buying an additional 345,463 shares during the last quarter. Two Sigma Advisers LP lifted its position in TORM by 2.6% during the 3rd quarter. Two Sigma Advisers LP now owns 1,266,900 shares of the company’s stock worth $43,315,000 after buying an additional 32,500 shares in the last quarter. Norges Bank acquired a new stake in shares of TORM in the fourth quarter valued at about $21,273,000. Finally, Renaissance Technologies LLC raised its holdings in TORM by 24.3% during the fourth quarter. Renaissance Technologies LLC now owns 561,889 shares of the company’s stock worth $10,929,000 after acquiring an additional 109,916 shares in the last quarter. Institutional investors and hedge funds 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.