Stifel Nicolaus Increases International Seaways (NYSE:INSW) Price Target to $64.00

International Seaways (NYSE:INSW) had its target price lifted by analysts at Stifel Nicolaus from $63.00 to $64.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 21.97% from the company’s current price.

Several other research analysts also recently weighed in on the stock. StockNews.com downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Wednesday. Jefferies Financial Group reissued a “buy” rating and set a $66.00 target price on shares of International Seaways in a report on Thursday, February 29th.

International Seaways Price Performance

Shares of International Seaways stock traded up $0.86 on Friday, reaching $52.47. The company’s stock had a trading volume of 227,288 shares, compared to its average volume of 525,344. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $2.57 billion, a P/E ratio of 4.66 and a beta of -0.05. The stock has a 50-day moving average price of $52.61 and a 200-day moving average price of $49.29. International Seaways has a 52-week low of $34.77 and a 52-week high of $55.59.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, February 29th. The transportation company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.08 by $0.10. The company had revenue of $250.73 million during the quarter, compared to analyst estimates of $239.36 million. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. Analysts expect that International Seaways will post 9.27 EPS for the current year.

Insider Buying and Selling at International Seaways

In other news, CEO Lois K. Zabrocky sold 16,240 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $52.02, for a total value of $844,804.80. Following the completion of the sale, the chief executive officer now directly owns 136,260 shares in the company, valued at $7,088,245.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $54.23, for a total value of $54,230.00. Following the transaction, the chief financial officer now directly owns 75,927 shares in the company, valued at approximately $4,117,521.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lois K. Zabrocky sold 16,240 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $52.02, for a total transaction of $844,804.80. Following the completion of the sale, the chief executive officer now directly owns 136,260 shares of the company’s stock, valued at approximately $7,088,245.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,846 shares of company stock worth $3,073,978. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On International Seaways

Several hedge funds and other institutional investors have recently made changes to their positions in INSW. Vanguard Group Inc. raised its holdings in International Seaways by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 3,700,058 shares of the transportation company’s stock valued at $168,279,000 after acquiring an additional 119,000 shares in the last quarter. BlackRock Inc. grew its stake in shares of International Seaways by 1.3% during the third quarter. BlackRock Inc. now owns 3,365,733 shares of the transportation company’s stock worth $118,238,000 after purchasing an additional 43,736 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in International Seaways by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,198,419 shares of the transportation company’s stock valued at $145,464,000 after buying an additional 122,642 shares during the last quarter. Donald Smith & CO. Inc. lifted its holdings in International Seaways by 24.6% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,613,803 shares of the transportation company’s stock worth $73,396,000 after buying an additional 318,962 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of International Seaways by 5.0% in the 1st quarter. State Street Corp now owns 1,186,385 shares of the transportation company’s stock valued at $49,449,000 after acquiring an additional 56,497 shares during the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

About International Seaways

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.