Shares of International Seaways Inc. (NYSE:INSW – Get Free Report) have been assigned an average recommendation of “Buy” from the eight analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $109.80.
A number of research analysts have commented on INSW shares. Jefferies Financial Group increased their price objective on International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. BTIG Research boosted their target price on shares of International Seaways from $100.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, September 18th. Weiss Ratings raised shares of International Seaways from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $107.00 price target on shares of International Seaways in a research note on Tuesday, September 1st. Finally, B. Riley Financial raised their price target on shares of International Seaways from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, October 5th.
Read Our Latest Stock Report on International Seaways
International Seaways Price Performance
NYSE:INSW opened at $94.30 on Friday. International Seaways has a one year low of $46.09 and a one year high of $126.27. The company has a market cap of $4.67 billion, a P/E ratio of 7.41, a P/E/G ratio of 0.26 and a beta of -0.10. The firm’s fifty day moving average price is $108.72 and its two-hundred day moving average price is $86.37. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.94 and a quick ratio of 5.76.
International Seaways (NYSE:INSW – Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The transportation company reported $5.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.13 by ($0.29). International Seaways had a return on equity of 31.75% and a net margin of 61.98%. The firm had revenue of $483.20 million for the quarter, compared to the consensus estimate of $349.50 million. During the same quarter in the prior year, the firm earned $1.15 EPS. The company’s revenue was up 146.0% on a year-over-year basis. Equities analysts expect that International Seaways will post 17.47 earnings per share for the current year.
Insider Buying and Selling
In other news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways 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 in the company, valued at approximately $19,389,971.35. The trade was a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Finance Ltd Famatown sold 102,000 shares of the company’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $111.82, for a total value of $11,405,640.00. Following the sale, the insider owned 6,932,458 shares of the company’s stock, valued at approximately $775,187,453.56. The trade was a 1.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have 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
Large investors have recently modified their holdings of the business. Quantbot Technologies LP purchased a new stake in shares of International Seaways in the 2nd quarter valued at about $28,000. Root Financial Partners LLC purchased a new position in shares of International Seaways during the third quarter worth about $33,000. Mather Group LLC. grew its holdings in shares of International Seaways by 100.0% during the third quarter. Mather Group LLC. now owns 400 shares of the transportation company’s stock worth $44,000 after purchasing an additional 200 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of International Seaways by 583.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after purchasing an additional 822 shares in the last quarter. Finally, Allworth Financial LP purchased a new position in shares of International Seaways during the second quarter worth about $48,000. Institutional investors and hedge funds own 67.29% of the company’s stock.
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.
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