International Seaways (NYSE:INSW) Sets New 12-Month High – Still a Buy?

Shares of International Seaways Inc. (NYSE:INSW) hit a new 52-week high during trading on Monday . The company traded as high as $61.37 and last traded at $60.80, with a volume of 24277 shares changing hands. The stock had previously closed at $61.06.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Pareto Securities raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Tuesday, January 20th. Wall Street Zen cut International Seaways from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reissued a “hold (c+)” rating on shares of International Seaways in a research note on Thursday, January 22nd. Zacks Research cut shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Finally, BTIG Research boosted their target price on International Seaways from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, International Seaways has an average rating of “Moderate Buy” and a consensus target price of $60.67.

International Seaways Price Performance

The stock’s 50 day moving average price is $53.28 and its 200-day moving average price is $49.32. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $2.99 billion, a PE ratio of 13.77 and a beta of -0.19.

Insider Activity

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $55.17, for a total transaction of $110,340.00. Following the sale, the chief executive officer owned 180,421 shares of the company’s stock, valued at approximately $9,953,826.57. This trade represents a 1.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $55.68, for a total value of $55,680.00. Following the completion of the sale, the chief financial officer directly owned 79,073 shares of the company’s stock, valued at approximately $4,402,784.64. This represents a 1.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 29,000 shares of company stock worth $1,544,620. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First Horizon Corp grew its holdings in shares of International Seaways by 121.6% during the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after buying an additional 377 shares during the last quarter. Federated Hermes Inc. lifted its position in International Seaways by 99.5% during the 3rd quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after acquiring an additional 378 shares during the period. Leonteq Securities AG purchased a new stake in International Seaways during the 4th quarter valued at about $44,000. Founders Capital Management grew its stake in International Seaways by 37.5% during the 4th quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 300 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of International Seaways in the third quarter valued at about $53,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

About International Seaways

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.