International Seaways (NYSE:INSW) Lowered to Hold Rating by Wall Street Zen

International Seaways (NYSE:INSW) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other analysts have also weighed in on the company. Zacks Research lowered International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. BTIG Research upped their price target on International Seaways from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday. Pareto Securities raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of International Seaways in a research note on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

International Seaways Trading Up 4.2%

INSW opened at $61.06 on Friday. International Seaways has a 12-month low of $27.20 and a 12-month high of $61.25. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a market capitalization of $3.02 billion, a PE ratio of 13.91 and a beta of -0.19. The firm’s fifty day moving average price is $52.91 and its 200 day moving average price is $48.90.

International Seaways (NYSE:INSW) last released its earnings results on Thursday, November 6th. The transportation company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.24. The company had revenue of $196.39 million during the quarter, compared to the consensus estimate of $180.92 million. International Seaways had a net margin of 28.26% and a return on equity of 10.13%. The company’s revenue was down 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.57 EPS. As a group, research analysts expect that International Seaways will post 7.77 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $55.68, for a total transaction of $55,680.00. Following the completion of the transaction, the chief financial officer owned 79,073 shares of the company’s stock, valued at approximately $4,402,784.64. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $55.17, for a total transaction of $110,340.00. Following the transaction, the chief executive officer owned 180,421 shares of the company’s stock, valued at $9,953,826.57. This represents a 1.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 32,500 shares of company stock valued at $1,732,605. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On International Seaways

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its stake in shares of International Seaways by 4,255.3% in the 3rd quarter. Pacer Advisors Inc. now owns 197,380 shares of the transportation company’s stock worth $9,095,000 after buying an additional 192,848 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in International Seaways during the second quarter worth about $273,000. Marex Group plc bought a new stake in International Seaways in the second quarter worth about $4,276,000. Creative Planning lifted its holdings in International Seaways by 270.9% in the 2nd quarter. Creative Planning now owns 30,981 shares of the transportation company’s stock valued at $1,130,000 after acquiring an additional 22,628 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in International Seaways by 151.4% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 60,332 shares of the transportation company’s stock valued at $2,780,000 after acquiring an additional 36,337 shares during the last quarter. 67.29% of the stock is owned by institutional investors.

About International Seaways

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.