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

International Seaways (NYSE:INSW) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Several other research firms also recently weighed in on INSW. BTIG Research raised their target price on International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price target on International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Jefferies Financial Group reissued a “buy” rating and issued a $100.00 price objective on shares of International Seaways in a research note on Friday, May 8th. Benchmark restated a “buy” rating on shares of International Seaways in a report on Thursday, February 26th. Finally, Wall Street Zen raised shares of International Seaways from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 13th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

International Seaways Stock Down 2.7%

INSW opened at $79.29 on Thursday. The company has a market cap of $3.93 billion, a PE ratio of 7.22 and a beta of -0.12. International Seaways has a twelve month low of $36.03 and a twelve month high of $92.66. The company has a 50-day moving average price of $82.51 and a 200 day moving average price of $69.18. The company has a quick ratio of 7.28, a current ratio of 7.34 and a debt-to-equity ratio of 0.26.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $1.03. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The company had revenue of $325.48 million for the quarter, compared to analysts’ expectations of $279.34 million. During the same period in the previous year, the firm posted $0.80 EPS. International Seaways’s revenue was up 77.5% compared to the same quarter last year. Sell-side analysts expect that International Seaways will post 14.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Derek G. Solon sold 4,700 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $89.22, for a total value of $419,334.00. Following the completion of the sale, the senior vice president owned 49,719 shares of the company’s stock, valued at approximately $4,435,929.18. This represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $81.68, for a total transaction of $81,680.00. Following the sale, the chief financial officer owned 101,984 shares of the company’s stock, valued at approximately $8,330,053.12. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 45,530 shares of company stock valued at $3,923,635. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On International Seaways

Several institutional investors and hedge funds have recently bought and sold shares of INSW. Charles Schwab Investment Management Inc. lifted its holdings in International Seaways by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company’s stock valued at $31,013,000 after acquiring an additional 12,188 shares during the last quarter. Resolute Capital LLC acquired a new stake in International Seaways during the fourth quarter worth $1,273,000. SG Americas Securities LLC raised its position in International Seaways by 123.4% in the fourth quarter. SG Americas Securities LLC now owns 34,276 shares of the transportation company’s stock valued at $1,664,000 after purchasing an additional 18,935 shares during the period. TrueMark Investments LLC purchased a new stake in International Seaways in the fourth quarter valued at $1,404,000. Finally, Assenagon Asset Management S.A. purchased a new stake in International Seaways in the fourth quarter valued at $910,000. 67.29% of the stock is currently 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.