International Seaways (NYSE:INSW) Stock Rating Lowered by Zacks Research

International Seaways (NYSE:INSW) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

A number of other brokerages have also recently issued reports on INSW. Pareto Securities cut International Seaways from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Weiss Ratings raised International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. BTIG Research lifted their price objective on shares of International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday. Benchmark reiterated a “buy” rating on shares of International Seaways in a research note on Thursday, February 26th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $86.00.

International Seaways Price Performance

Shares of NYSE:INSW opened at $79.29 on Thursday. International Seaways has a 12 month low of $36.03 and a 12 month high of $92.66. The firm has a market capitalization of $3.93 billion, a P/E ratio of 7.22 and a beta of -0.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.34 and a quick ratio of 7.28. The company’s fifty day moving average price is $82.51 and its 200 day moving average price is $69.18.

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

Insider Activity

In other International Seaways news, SVP Derek G. Solon sold 4,700 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $89.22, for a total transaction of $419,334.00. Following the completion of the sale, the senior vice president owned 49,719 shares in the company, valued at $4,435,929.18. This trade represents a 8.64% 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 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $88.08, for a total value of $2,202,000.00. Following the completion of the sale, the chief executive officer owned 181,745 shares of the company’s stock, valued at $16,008,099.60. This trade represents a 12.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 45,530 shares of company stock valued at $3,923,635. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership grew its stake in shares of International Seaways by 167.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company’s stock valued at $44,330,000 after buying an additional 380,931 shares in the last quarter. Amundi acquired a new stake in shares of International Seaways in the fourth quarter worth $13,663,000. Acorn Financial Advisory Services Inc. ADV acquired a new stake in International Seaways in the 1st quarter worth $13,145,000. Tudor Investment Corp ET AL bought a new position in International Seaways during the fourth quarter valued at about $7,087,000. Finally, American Century Companies Inc. increased its position in shares of International Seaways by 7.5% during the third quarter. American Century Companies Inc. now owns 1,994,978 shares of the transportation company’s stock valued at $91,929,000 after purchasing an additional 139,868 shares during the period. 67.29% of the stock is 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.