BTIG Research Issues Positive Forecast for International Seaways (NYSE:INSW) Stock Price

International Seaways (NYSE:INSW) had its price objective upped by stock analysts at BTIG Research from $80.00 to $90.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. BTIG Research’s target price suggests a potential upside of 18.52% from the stock’s previous close.

INSW has been the topic of several other reports. 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 research report on Tuesday, January 20th. Weiss Ratings cut shares of International Seaways from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, April 7th. Benchmark reissued a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 2nd. Finally, Wall Street Zen raised shares of International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, International Seaways presently has an average rating of “Buy” and an average price target of $70.50.

International Seaways Stock Performance

Shares of NYSE INSW opened at $75.94 on Wednesday. The company has a market cap of $3.76 billion, a PE ratio of 12.19 and a beta of -0.23. International Seaways has a 12 month low of $31.49 and a 12 month high of $79.07. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.71 and a quick ratio of 3.71. The company has a 50-day simple moving average of $71.28 and a 200-day simple moving average of $58.61.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, February 26th. The transportation company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.70. The business had revenue of $267.88 million during the quarter, compared to the consensus estimate of $245.29 million. International Seaways had a net margin of 36.67% and a return on equity of 13.92%. The company’s quarterly revenue was up 37.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 earnings per share. On average, equities analysts anticipate that International Seaways will post 9.73 earnings per share for the current year.

Insider Activity

In other International Seaways news, SVP William F. Nugent sold 9,583 shares of International Seaways stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $76.00, for a total transaction of $728,308.00. Following the transaction, the senior vice president directly owned 52,572 shares of the company’s stock, valued at $3,995,472. The trade was a 15.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Alexandra Kate Blankenship sold 5,000 shares of International Seaways stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $74.88, for a total transaction of $374,400.00. Following the transaction, the director directly owned 10,213 shares in the company, valued at approximately $764,749.44. This trade represents a 32.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 60,697 shares of company stock valued at $4,517,070 over the last quarter. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund lifted its position in International Seaways by 2.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company’s stock valued at $452,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System lifted its position in International Seaways by 1.7% during the third quarter. Arizona State Retirement System now owns 12,409 shares of the transportation company’s stock valued at $572,000 after buying an additional 206 shares in the last quarter. ProShare Advisors LLC lifted its position in International Seaways by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company’s stock valued at $380,000 after buying an additional 241 shares in the last quarter. Evergreen Capital Management LLC lifted its position in International Seaways by 2.9% during the third quarter. Evergreen Capital Management LLC now owns 9,832 shares of the transportation company’s stock valued at $453,000 after buying an additional 274 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its position in International Seaways by 1.4% during the fourth quarter. Guggenheim Capital LLC now owns 19,760 shares of the transportation company’s stock valued at $959,000 after buying an additional 275 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

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.