International Seaways (NYSE:INSW) Reaches New 1-Year High – Here’s Why

International Seaways Inc. (NYSE:INSW)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $61.37 and last traded at $60.80, with a volume of 24277 shares. The stock had previously closed at $61.06.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Zacks Research downgraded International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of International Seaways in a research report on Thursday, January 22nd. BTIG Research raised their price objective on International Seaways from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Pareto Securities raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Tuesday, January 20th. Finally, Wall Street Zen lowered shares of International Seaways from a “buy” rating to a “hold” rating in a report on Saturday. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, International Seaways presently has an average rating of “Moderate Buy” and a consensus target price of $60.67.

International Seaways Price Performance

The firm has a 50-day simple moving average of $52.91 and a 200-day simple moving average of $49.03. The firm has a market capitalization of $3.02 billion, a PE ratio of 13.93 and a beta of -0.19. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.75.

International Seaways (NYSE:INSW) last issued 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. The firm had revenue of $196.39 million for the quarter, compared to analysts’ expectations of $180.92 million. International Seaways had a net margin of 28.26% and a return on equity of 10.13%. The business’s quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.57 EPS. As a group, equities analysts forecast that International Seaways Inc. will post 7.77 earnings per share for the current year.

Insider Activity

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $55.17, for a total value of $110,340.00. Following the completion of the sale, the chief executive officer directly owned 180,421 shares in the company, valued at $9,953,826.57. This represents a 1.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO James D. Small III sold 20,000 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $53.60, for a total value of $1,072,000.00. Following the completion of the transaction, the chief accounting officer directly owned 49,292 shares in the company, valued at approximately $2,642,051.20. This represents a 28.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 29,000 shares of company stock valued at $1,544,620 in the last 90 days. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On International Seaways

Several large investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its position in shares of International Seaways by 23.4% in the fourth quarter. Hantz Financial Services Inc. now owns 1,902 shares of the transportation company’s stock worth $92,000 after purchasing an additional 361 shares during the period. Jefferies Financial Group Inc. purchased a new position in shares of International Seaways during the 4th quarter valued at $238,000. Leonteq Securities AG bought a new position in International Seaways in the 4th quarter worth $44,000. ProShare Advisors LLC increased its stake in International Seaways by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company’s stock worth $380,000 after buying an additional 241 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in International Seaways by 2.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company’s stock valued at $452,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 67.29% of the company’s stock.

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.