International Seaways (NYSE:INSW – Get Free Report) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.
Several other research analysts also recently weighed in on the stock. BTIG Research increased their price target on shares of International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of International Seaways in a research report on Friday, August 7th. Pareto Securities lowered International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Jefferies Financial Group raised their target price on International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.00.
Get Our Latest Stock Analysis on INSW
International Seaways Price Performance
International Seaways (NYSE:INSW – Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.55 by $0.36. The company had revenue of $467.29 million for the quarter, compared to the consensus estimate of $406.38 million. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The firm’s revenue was up 138.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.02 earnings per share. Equities research analysts anticipate that International Seaways will post 15.89 earnings per share for the current year.
Insiders Place Their Bets
In related news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction on Monday, June 15th. The shares were sold at an average price of $81.68, for a total transaction of $81,680.00. Following the transaction, the chief financial officer owned 101,984 shares in the company, valued at approximately $8,330,053.12. The trade was a 0.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $98.44, for a total transaction of $196,880.00. Following the completion of the transaction, the chief executive officer directly owned 173,745 shares of the company’s stock, valued at $17,103,457.80. This represents a 1.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 5,000 shares of company stock valued at $441,240. Corporate insiders own 1.70% of the company’s stock.
Institutional Trading of International Seaways
Several institutional investors and hedge funds have recently added to or reduced their stakes in INSW. BlackRock Inc. purchased a new position in International Seaways in the 2nd quarter worth approximately $505,153,000. California State Teachers Retirement System raised its position in shares of International Seaways by 7,351.6% during the second quarter. California State Teachers Retirement System now owns 3,714,462 shares of the transportation company’s stock valued at $284,491,000 after buying an additional 3,664,614 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of International Seaways by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 3,024,755 shares of the transportation company’s stock valued at $220,436,000 after buying an additional 52,743 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of International Seaways by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,010,815 shares of the transportation company’s stock worth $49,083,000 after buying an additional 4,250 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 worth $31,013,000 after buying an additional 12,188 shares in the last quarter. 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.
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