International Seaways (NYSE:INSW) Stock Rating Upgraded by Zacks Research

International Seaways (NYSE:INSW) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other research firms have also recently weighed in on INSW. Wall Street Zen upgraded shares of International Seaways from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 13th. Pareto Securities cut shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Jefferies Financial Group reiterated a “buy” rating and issued a $100.00 target price on shares of International Seaways in a research note on Friday, May 8th. Weiss Ratings upgraded shares of International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Finally, BTIG Research raised their price objective on shares of International Seaways from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. One equities research 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $83.50.

International Seaways Price Performance

Shares of International Seaways stock opened at $76.81 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.34 and a quick ratio of 7.28. The firm has a fifty day moving average price of $78.59 and a two-hundred day moving average price of $65.02. International Seaways has a fifty-two week low of $35.60 and a fifty-two week high of $92.66. The company has a market cap of $3.80 billion, a PE ratio of 6.99 and a beta of -0.09.

International Seaways (NYSE:INSW) last released its earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share for the quarter, beating the consensus estimate of $2.87 by $1.03. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The business had revenue of $325.48 million during the quarter, compared to analysts’ expectations of $279.34 million. During the same quarter last year, the company earned $0.80 earnings per share. The firm’s revenue was up 77.5% on a year-over-year basis. Analysts expect that International Seaways will post 14.99 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Lois K. Zabrocky sold 25,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $88.08, for a total value of $2,202,000.00. Following the transaction, the chief executive officer owned 181,745 shares of the company’s stock, valued at $16,008,099.60. This represents a 12.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Derek G. Solon sold 6,000 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $75.41, for a total value of $452,460.00. Following the completion of the transaction, the senior vice president directly owned 50,989 shares in the company, valued at approximately $3,845,080.49. This trade represents a 10.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 97,227 shares of company stock worth $7,781,495. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On International Seaways

Several large investors have recently modified their holdings of the business. Segall Bryant & Hamill LLC acquired a new position in shares of International Seaways in the 1st quarter valued at $3,010,000. Western Wealth Management LLC acquired a new position in International Seaways during the 1st quarter worth about $344,000. Cim LLC acquired a new position in International Seaways during the 1st quarter worth about $541,000. EverSource Wealth Advisors LLC lifted its stake in International Seaways by 11.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,169 shares of the transportation company’s stock worth $85,000 after acquiring an additional 118 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in International Seaways by 27.1% during the 1st quarter. California State Teachers Retirement System now owns 49,848 shares of the transportation company’s stock worth $3,633,000 after acquiring an additional 10,633 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.