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

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

A number of other equities research analysts have also weighed in on the stock. B. Riley Financial lifted their price objective on shares of International Seaways from $120.00 to $140.00 and gave the company a “buy” rating in a report on Monday, October 5th. Wall Street Zen raised International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Jefferies Financial Group lifted their target price on International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. BTIG Research upped their price target on International Seaways from $100.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, September 18th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $107.00 price objective on shares of International Seaways in a research report on Tuesday, September 1st. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $109.80.

International Seaways Stock Up 3.9%

NYSE INSW opened at $98.15 on Thursday. The stock’s 50-day moving average price is $108.69 and its 200-day moving average price is $86.58. The company has a quick ratio of 5.76, a current ratio of 5.94 and a debt-to-equity ratio of 0.27. International Seaways has a 52 week low of $46.09 and a 52 week high of $126.27. The company has a market capitalization of $4.86 billion, a P/E ratio of 4.65, a price-to-earnings-growth ratio of 0.28 and a beta of -0.10.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Thursday, November 5th. The transportation company reported $5.84 earnings per share for the quarter, missing analysts’ consensus estimates of $6.13 by ($0.29). International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The company had revenue of $483.20 million during the quarter, compared to analysts’ expectations of $349.50 million. During the same period last year, the firm earned $1.15 earnings per share. International Seaways’s revenue was up 146.0% on a year-over-year basis. On average, equities research analysts predict that International Seaways will post 17.47 earnings per share for the current year.

Insider Transactions at International Seaways

In other news, CEO Lois Zabrocky sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $114.23, for a total value of $228,460.00. Following the completion of the sale, the chief executive officer directly owned 169,745 shares of the company’s stock, valued at approximately $19,389,971.35. This represents a 1.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Finance Ltd Famatown sold 102,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $111.82, for a total transaction of $11,405,640.00. Following the completion of the transaction, the insider owned 6,932,458 shares of the company’s stock, valued at $775,187,453.56. This trade represents a 1.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 655,028 shares of company stock worth $76,362,341. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On International Seaways

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quantbot Technologies LP acquired a new stake in International Seaways during the 2nd quarter valued at approximately $28,000. Root Financial Partners LLC bought a new stake in International Seaways in the 3rd quarter worth $33,000. Mather Group LLC. increased its holdings in International Seaways by 100.0% during the 3rd quarter. Mather Group LLC. now owns 400 shares of the transportation company’s stock worth $44,000 after purchasing an additional 200 shares during the period. Rockefeller Capital Management L.P. increased its stake in International Seaways by 583.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after buying an additional 822 shares during the period. Finally, Allworth Financial LP acquired a new stake in International Seaways in the second quarter worth $48,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is a maritime transportation company that owns and operates oceangoing tankers. Its vessels transport crude oil, refined petroleum products and other energy-related cargoes for oil companies, commodity traders, refiners and other customers in international markets.

The company’s fleet includes large crude carriers and product tankers serving a range of transportation needs. International Seaways operates vessels on the global waterborne energy transportation network, with routes connecting major oil-producing regions, refining centers and consuming markets.

International Seaways was established as an independent public company in 2016 following its spin-off from Overseas Shipholding Group.