International Seaways (NYSE:INSW) Rating Lowered to Hold at Wall Street Zen

International Seaways (NYSE:INSW) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other research firms have also weighed in on INSW. Pareto Securities upgraded shares of 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, January 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of International Seaways in a report on Thursday, January 22nd. Zacks Research lowered International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, BTIG Research lifted 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. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.67.

International Seaways Price Performance

Shares of INSW opened at $61.06 on Friday. The business’s fifty day moving average is $52.91 and its 200 day moving average is $49.03. International Seaways has a 12-month low of $27.20 and a 12-month high of $61.25. 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 cap of $3.02 billion, a P/E ratio of 13.91 and a beta of -0.19.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, November 6th. The transportation company reported $1.15 earnings per share for the quarter, topping 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 firm had revenue of $196.39 million for the quarter, compared to the consensus estimate of $180.92 million. During the same quarter in the prior year, the company posted $1.57 earnings per share. The business’s revenue was down 12.8% on a year-over-year basis. Sell-side analysts anticipate that International Seaways will post 7.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer owned 79,073 shares in the company, valued at $4,402,784.64. This represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $53.82, for a total value of $107,640.00. Following the sale, the chief executive officer directly owned 184,421 shares of the company’s stock, valued at approximately $9,925,538.22. This represents a 1.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 29,000 shares of company stock valued at $1,544,620. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

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

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.