International Seaways (NYSE:INSW) Rating Lowered to “Buy” at Wall Street Zen

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

INSW has been the subject of a number of other research reports. Weiss Ratings raised shares of International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 23rd. Pareto Securities raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Tuesday, January 20th. Benchmark restated a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. BTIG Research lifted their price target on shares of International Seaways from $70.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Finally, Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $68.00.

International Seaways Trading Down 0.1%

Shares of NYSE INSW opened at $75.31 on Friday. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average price is $67.52 and its two-hundred day moving average price is $56.19. International Seaways has a 52-week low of $27.20 and a 52-week high of $78.51. The stock has a market capitalization of $3.72 billion, a P/E ratio of 12.09 and a beta of -0.23.

International Seaways (NYSE:INSW) last issued its earnings results on Thursday, February 26th. The transportation company reported $2.45 EPS for the quarter, topping the consensus estimate of $1.75 by $0.70. International Seaways had a return on equity of 13.92% and a net margin of 36.67%.The company had revenue of $267.88 million during the quarter, compared to analyst estimates of $245.29 million. During the same quarter last year, the firm earned $0.90 EPS. The business’s revenue was up 37.7% on a year-over-year basis. On average, analysts anticipate that International Seaways will post 7.77 earnings per share for the current fiscal year.

Insider Transactions at International Seaways

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction on Monday, March 16th. The stock was sold at an average price of $66.50, for a total transaction of $66,500.00. Following the sale, the chief financial officer owned 100,521 shares of the company’s stock, valued at $6,684,646.50. The trade was a 0.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $74.88, for a total value of $374,400.00. Following the transaction, the director owned 10,213 shares of the company’s stock, valued at $764,749.44. This trade represents a 32.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 60,697 shares of company stock worth $4,459,450 over the last quarter. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On International Seaways

Institutional investors have recently bought and sold shares of the stock. First Horizon Corp grew its position in International Seaways by 121.6% in the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after buying an additional 377 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of International Seaways by 99.5% in the 3rd quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after acquiring an additional 378 shares during the period. Leonteq Securities AG acquired a new stake in shares of International Seaways in the 4th quarter worth approximately $44,000. Garton & Associates Financial Advisors LLC bought a new position in shares of International Seaways in the fourth quarter valued at approximately $46,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of International Seaways by 583.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 822 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Company Profile

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.