Brokerages Set International Seaways Inc (NYSE:INSW) Target Price at $29.08

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International Seaways Inc (NYSE:INSW) has been given an average recommendation of “Hold” by the six research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $29.08.

A number of brokerages recently commented on INSW. B. Riley raised their target price on International Seaways from $21.50 to $27.25 and gave the company a “neutral” rating in a report on Thursday, October 24th. Zacks Investment Research cut International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. BTIG Research began coverage on International Seaways in a report on Friday, October 11th. They set a “buy” rating and a $30.00 target price for the company. Finally, ValuEngine cut International Seaways from a “hold” rating to a “sell” rating in a report on Friday.

Shares of NYSE:INSW traded up $0.95 during midday trading on Tuesday, reaching $24.35. 250,774 shares of the company’s stock were exchanged, compared to its average volume of 186,193. The firm’s 50 day simple moving average is $23.23 and its two-hundred day simple moving average is $19.31. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.73 and a quick ratio of 1.69. The stock has a market cap of $739.03 million, a price-to-earnings ratio of -11.07 and a beta of 0.28. International Seaways has a fifty-two week low of $15.15 and a fifty-two week high of $27.01.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Thursday, August 8th. The transportation company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.03. The firm had revenue of $69.01 million during the quarter, compared to the consensus estimate of $71.97 million. International Seaways had a negative return on equity of 2.49% and a negative net margin of 13.98%. Equities research analysts predict that International Seaways will post 3.5 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. Donald Smith & CO. Inc. boosted its holdings in International Seaways by 18.4% during the 3rd quarter. Donald Smith & CO. Inc. now owns 2,604,359 shares of the transportation company’s stock valued at $50,160,000 after acquiring an additional 404,977 shares during the period. BlackRock Inc. boosted its stake in shares of International Seaways by 15.3% in the 2nd quarter. BlackRock Inc. now owns 1,818,598 shares of the transportation company’s stock valued at $34,553,000 after buying an additional 241,547 shares during the period. Vanguard Group Inc. boosted its stake in shares of International Seaways by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,809,748 shares of the transportation company’s stock valued at $34,385,000 after buying an additional 19,567 shares during the period. Carlson Capital L P boosted its stake in shares of International Seaways by 44.6% in the 2nd quarter. Carlson Capital L P now owns 474,067 shares of the transportation company’s stock valued at $9,007,000 after buying an additional 146,300 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of International Seaways by 3.3% in the 2nd quarter. Northern Trust Corp now owns 301,926 shares of the transportation company’s stock valued at $5,737,000 after buying an additional 9,659 shares during the period. Institutional investors own 76.54% of the company’s stock.

About International Seaways

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the International Flag trades. It operates through two segments, Crude Tankers and Product Carriers. As of December 31, 2018, the company owned and operated a fleet of 48 vessels, including 13 very large crude carriers, 2 Suezmaxes, 6 Aframaxes, 11 Panamaxes, and 10 medium range tankers.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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