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

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

Several other equities analysts have also issued reports on the company. Pareto Securities lowered International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Jefferies Financial Group raised their price objective on shares of International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. 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, June 24th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of International Seaways in a research report on Friday, August 7th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $88.00.

International Seaways Stock Performance

Shares of International Seaways stock opened at $98.98 on Monday. The business has a 50-day moving average price of $89.71 and a two-hundred day moving average price of $80.52. International Seaways has a 1-year low of $42.26 and a 1-year high of $102.36. The company has a current ratio of 5.94, a quick ratio of 5.76 and a debt-to-equity ratio of 0.27. The company has a market cap of $4.90 billion, a P/E ratio of 6.33 and a beta of -0.13.

International Seaways (NYSE:INSW) last announced its earnings results on Monday, August 10th. The transportation company reported $5.91 EPS for the quarter, beating the consensus estimate of $5.55 by $0.36. International Seaways had a return on equity of 31.75% and a net margin of 61.98%.The company had revenue of $467.29 million for the quarter, compared to analyst estimates of $406.38 million. During the same quarter in the prior year, the company earned $1.02 EPS. The firm’s revenue for the quarter was up 138.9% compared to the same quarter last year. As a group, analysts anticipate that International Seaways will post 15.89 EPS for the current year.

Insider Buying and Selling at International Seaways

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $98.44, for a total value of $196,880.00. Following the completion of the sale, the chief executive officer owned 173,745 shares in the company, valued at $17,103,457.80. The trade was a 1.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $81.68, for a total transaction of $81,680.00. Following the transaction, the chief financial officer directly owned 101,984 shares in the company, valued at $8,330,053.12. This trade represents a 0.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 5,000 shares of company stock worth $441,240. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of INSW. Quantbot Technologies LP bought a new stake in shares of International Seaways in the 2nd quarter valued at about $28,000. Allworth Financial LP bought a new stake in International Seaways during the 2nd quarter valued at $48,000. Public Employees Retirement System of Ohio bought a new stake in International Seaways in the 2nd quarter worth $66,000. Leonteq Securities AG bought a new position in shares of International Seaways during the fourth quarter valued at about $44,000. Finally, Compass Financial Management LLC bought a new stake in shares of International Seaways in the second quarter worth about $86,000. 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.