BTIG Research Issues Positive Forecast for International Seaways (NYSE:INSW) Stock Price

International Seaways (NYSE:INSW) had its price objective increased by equities researchers at BTIG Research from $90.00 to $100.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. BTIG Research’s target price points to a potential upside of 11.07% from the stock’s current price.

INSW has been the subject of a number of other reports. Wall Street Zen upgraded International Seaways from a “buy” rating to a “strong-buy” rating in a report on Monday, April 13th. Pareto Securities lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Benchmark reiterated a “buy” rating on shares of International Seaways in a report on Thursday, February 26th. Jefferies Financial Group reissued a “buy” rating and issued a $100.00 price target on shares of International Seaways in a research report on Friday, May 8th. Finally, Weiss Ratings upgraded shares of International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $86.00.

International Seaways Price Performance

Shares of NYSE INSW opened at $90.03 on Wednesday. The company has a market capitalization of $4.46 billion, a PE ratio of 8.20 and a beta of -0.12. The company has a quick ratio of 7.28, a current ratio of 7.34 and a debt-to-equity ratio of 0.26. International Seaways has a twelve month low of $36.03 and a twelve month high of $92.66. The firm has a fifty day simple moving average of $81.98 and a 200 day simple moving average of $68.64.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $1.03. The business had revenue of $325.48 million for the quarter, compared to analysts’ expectations of $279.34 million. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The business’s quarterly revenue was up 77.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 earnings per share. On average, sell-side analysts forecast that International Seaways will post 14.99 EPS for the current year.

Insider Buying and Selling

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $81.34, for a total value of $162,680.00. Following the completion of the sale, the chief executive officer owned 177,745 shares in the company, valued at $14,457,778.30. This represents a 1.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP William F. Nugent sold 6,830 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $85.23, for a total transaction of $582,120.90. Following the completion of the sale, the senior vice president owned 49,169 shares of the company’s stock, valued at approximately $4,190,673.87. This represents a 12.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 45,530 shares of company stock valued at $3,923,635. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in International Seaways by 11.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,169 shares of the transportation company’s stock valued at $85,000 after buying an additional 118 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of International Seaways by 2.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company’s stock worth $452,000 after buying an additional 200 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of 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 during the last quarter. Guggenheim Capital LLC grew its holdings in shares of International Seaways by 1.4% in the fourth quarter. Guggenheim Capital LLC now owns 19,760 shares of the transportation company’s stock valued at $959,000 after acquiring an additional 275 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of International Seaways by 16.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,074 shares of the transportation company’s stock valued at $151,000 after acquiring an additional 292 shares during the last quarter. 67.29% of the stock is owned by 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.