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

International Seaways Inc. (NYSE:INSW)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $58.25 and last traded at $57.3350, with a volume of 129592 shares. The stock had previously closed at $56.25.

Analysts Set New Price Targets

A number of research firms have commented on INSW. Zacks Research downgraded International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of International Seaways in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. Finally, Pareto Securities upgraded International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Tuesday. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, International Seaways currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.50.

International Seaways Stock Performance

The company has a market capitalization of $2.81 billion, a P/E ratio of 12.95 and a beta of -0.18. The stock’s 50-day moving average price is $51.59 and its 200-day moving average price is $47.24. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Thursday, November 6th. The transportation company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.24. International Seaways had a net margin of 28.26% and a return on equity of 10.13%. The company had revenue of $196.39 million during the quarter, compared to the consensus estimate of $180.92 million. During the same quarter in the previous year, the company posted $1.57 earnings per share. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. As a group, equities analysts expect that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Tuesday, December 9th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, December 9th. International Seaways’s dividend payout ratio is 10.93%.

Insider Transactions at International Seaways

In other news, CAO James D. Small III sold 20,000 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $53.60, for a total transaction of $1,072,000.00. Following the sale, the chief accounting officer directly owned 49,292 shares of the company’s stock, valued at $2,642,051.20. The trade was a 28.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Monday, December 15th. The shares were sold at an average price of $48.56, for a total value of $97,120.00. Following the transaction, the chief executive officer owned 182,421 shares in the company, valued at $8,858,363.76. This represents a 1.08% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 32,500 shares of company stock worth $1,732,605. Corporate 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 stock. Royal Bank of Canada increased its stake in shares of International Seaways by 42.0% in the first quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company’s stock worth $311,000 after purchasing an additional 2,768 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of International Seaways by 3.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company’s stock worth $800,000 after purchasing an additional 900 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in International Seaways by 16.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company’s stock valued at $4,264,000 after acquiring an additional 18,509 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in International Seaways in the 2nd quarter valued at $325,000. Finally, GAMMA Investing LLC raised its position in International Seaways by 193.4% in the second quarter. GAMMA Investing LLC now owns 3,412 shares of the transportation company’s stock worth $124,000 after purchasing an additional 2,249 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.