International Seaways (NYSE:INSW – Get Free Report) had its price target boosted by research analysts at Jefferies Financial Group from $100.00 to $108.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 16.42% from the company’s previous close.
A number of other brokerages have also weighed in on INSW. BTIG Research upped their price objective on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. Pareto Securities downgraded International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of International Seaways in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, International Seaways presently has an average rating of “Buy” and a consensus target price of $88.00.
View Our Latest Research Report on INSW
International Seaways Price Performance
International Seaways (NYSE:INSW – Get Free Report) last released its earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.36. The company had revenue of $467.29 million for the quarter, compared to analysts’ expectations of $406.38 million. International Seaways had a return on equity of 32.59% and a net margin of 61.98%.The firm’s quarterly revenue was up 138.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.02 EPS. Research analysts anticipate that International Seaways will post 15.89 earnings per share for the current year.
Insider Buying and Selling
In related news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $81.68, for a total value of $81,680.00. Following the completion of the transaction, the chief financial officer directly owned 101,984 shares of the company’s stock, valued at $8,330,053.12. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Monday, June 15th. The stock was sold at an average price of $81.34, for a total value of $162,680.00. Following the transaction, the chief executive officer directly owned 177,745 shares of the company’s stock, valued at approximately $14,457,778.30. This represents a 1.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 6,000 shares of company stock worth $496,540. Insiders own 1.70% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP acquired a new stake in International Seaways during the 2nd quarter valued at $28,000. Allworth Financial LP purchased a new stake in shares of International Seaways in the second quarter valued at $48,000. First Horizon Corp boosted its stake 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 acquiring an additional 377 shares during the last quarter. Leonteq Securities AG purchased a new stake in International Seaways during the 4th quarter worth about $44,000. Finally, Compass Financial Management LLC purchased a new stake in International Seaways during the 2nd quarter worth about $86,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.
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.
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