International Seaways (NYSE:INSW) Rating Increased to Buy at Wall Street Zen

International Seaways (NYSE:INSW) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Friday.

Other equities analysts have also issued reports about the company. Pareto Securities upgraded International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Tuesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Seaways in a research note on Wednesday, October 8th. Finally, Zacks Research cut shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.50.

International Seaways Price Performance

Shares of NYSE INSW traded up $0.98 during mid-day trading on Friday, reaching $57.28. 515,474 shares of the company were exchanged, compared to its average volume of 479,014. International Seaways has a 52 week low of $27.20 and a 52 week high of $58.98. The company’s 50 day moving average price is $51.80 and its 200 day moving average price is $47.50. The stock has a market capitalization of $2.83 billion, a PE ratio of 13.05 and a beta of -0.18. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.26.

International Seaways (NYSE:INSW) last released its earnings results on Thursday, November 6th. The transportation company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.24. International Seaways had a return on equity of 10.13% and a net margin of 28.26%.The business had revenue of $196.39 million for the quarter, compared to analysts’ expectations of $180.92 million. During the same quarter in the prior year, the firm earned $1.57 earnings per share. The firm’s revenue was down 12.8% on a year-over-year basis. Sell-side analysts forecast that International Seaways will post 7.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $55.17, for a total value of $110,340.00. Following the transaction, the chief executive officer owned 180,421 shares in the company, valued at approximately $9,953,826.57. This trade represents a 1.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $55.68, for a total transaction of $55,680.00. Following the completion of the transaction, the chief financial officer directly owned 79,073 shares in the company, valued at approximately $4,402,784.64. The trade was a 1.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 32,500 shares of company stock worth $1,732,605. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On International Seaways

A number of large investors have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. increased its position in shares of International Seaways by 43.9% in the second quarter. Donald Smith & CO. Inc. now owns 709,036 shares of the transportation company’s stock valued at $25,866,000 after acquiring an additional 216,325 shares during the period. Pacer Advisors Inc. increased its holdings in International Seaways by 4,255.3% during the 3rd quarter. Pacer Advisors Inc. now owns 197,380 shares of the transportation company’s stock valued at $9,095,000 after purchasing an additional 192,848 shares during the period. American Century Companies Inc. increased its holdings in International Seaways by 9.4% during the 2nd quarter. American Century Companies Inc. now owns 1,855,110 shares of the transportation company’s stock valued at $67,674,000 after purchasing an additional 159,125 shares during the period. Frontier Capital Management Co. LLC raised its position in International Seaways by 105.2% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 270,386 shares of the transportation company’s stock valued at $9,864,000 after purchasing an additional 138,625 shares during the last quarter. Finally, Marex Group plc purchased a new stake in International Seaways in the 2nd quarter worth approximately $4,276,000. Institutional investors 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.