International Seaways (NYSE:INSW) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of International Seaways (NYSE:INSW) from a strong-buy rating to a buy rating in a research note published on Saturday,Wall Street Zen reports.

INSW has been the subject of a number of other research reports. Jefferies Financial Group boosted their price objective on shares of International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. BTIG Research raised their target price on shares of International Seaways from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, September 18th. Weiss Ratings upgraded International Seaways from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. B. Riley Financial upped their target price on International Seaways from $120.00 to $140.00 and gave the company a “buy” rating in a report on Monday, October 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $107.00 target price on shares of International Seaways in a report on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $109.80.

International Seaways Stock Up 2.7%

INSW stock opened at $113.73 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.94 and a quick ratio of 5.76. International Seaways has a 1-year low of $46.09 and a 1-year high of $126.27. The firm has a fifty day moving average price of $107.41 and a two-hundred day moving average price of $84.32. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 7.27, a PEG ratio of 0.29 and a beta of -0.14.

International Seaways (NYSE:INSW) last issued its earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, topping analysts’ consensus estimates of $5.55 by $0.36. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The company had revenue of $467.29 million for the quarter, compared to analysts’ expectations of $406.38 million. During the same period in the prior year, the company earned $1.02 earnings per share. The firm’s revenue was up 138.9% compared to the same quarter last year. Research analysts predict that International Seaways will post 17.47 EPS for the current year.

International Seaways Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were given a dividend of $5.05 per share. This is a boost from International Seaways’s previous quarterly dividend of $0.12. This represents a $20.20 annualized dividend and a dividend yield of 17.8%. The ex-dividend date was Thursday, September 10th. International Seaways’s payout ratio is presently 129.16%.

Insider Buying and Selling

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $114.23, for a total transaction of $228,460.00. Following the sale, the chief executive officer owned 169,745 shares of the company’s stock, valued at $19,389,971.35. The trade was a 1.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Finance Ltd Famatown sold 102,000 shares of the business’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $111.82, for a total value of $11,405,640.00. Following the transaction, the insider owned 6,932,458 shares of the company’s stock, valued at $775,187,453.56. This trade represents a 1.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 451,290 shares of company stock valued at $51,351,266 over the last three months. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On International Seaways

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Root Financial Partners LLC bought a new position in International Seaways in the 3rd quarter valued at about $33,000. Quantbot Technologies LP acquired a new position in International Seaways during the 2nd quarter valued at about $28,000. Mather Group LLC. raised its position in shares of International Seaways by 100.0% during the 3rd quarter. Mather Group LLC. now owns 400 shares of the transportation company’s stock worth $44,000 after buying an additional 200 shares in the last quarter. Reyes Financial Architecture Inc. bought a new stake in shares of International Seaways during the 3rd quarter worth about $56,000. Finally, Allworth Financial LP bought a new stake in shares of International Seaways during the 2nd quarter worth about $48,000. 67.29% of the stock is currently owned by institutional investors.

About International Seaways

International Seaways, Inc (NYSE: INSW) is a maritime transportation company that owns and operates oceangoing tankers. Its vessels transport crude oil, refined petroleum products and other energy-related cargoes for oil companies, commodity traders, refiners and other customers in international markets.

The company’s fleet includes large crude carriers and product tankers serving a range of transportation needs. International Seaways operates vessels on the global waterborne energy transportation network, with routes connecting major oil-producing regions, refining centers and consuming markets.

International Seaways was established as an independent public company in 2016 following its spin-off from Overseas Shipholding Group.