International Seaways (NYSE:INSW) Raised to Strong-Buy at Zacks Research

International Seaways (NYSE:INSW) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities analysts have also weighed in on the company. Benchmark reissued a “buy” rating on shares of International Seaways in a report on Thursday, February 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of International Seaways in a research note on Thursday, January 22nd. Pareto Securities raised International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Tuesday, January 20th. Wall Street Zen cut International Seaways from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, BTIG Research upped their price objective on shares of International Seaways from $70.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, International Seaways currently has an average rating of “Buy” and a consensus target price of $64.00.

International Seaways Stock Performance

NYSE INSW opened at $75.50 on Monday. The company has a market capitalization of $3.73 billion, a PE ratio of 12.12 and a beta of -0.23. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.71 and a current ratio of 3.71. International Seaways has a 52-week low of $27.20 and a 52-week high of $78.51. The company has a 50-day simple moving average of $58.89 and a 200 day simple moving average of $52.10.

International Seaways (NYSE:INSW) last released its earnings results on Thursday, February 26th. The transportation company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.70. International Seaways had a net margin of 36.67% and a return on equity of 13.92%. The firm had revenue of $267.88 million for the quarter, compared to analysts’ expectations of $245.29 million. During the same period in the previous year, the company earned $0.90 earnings per share. The company’s quarterly revenue was up 37.7% on a year-over-year basis. On average, research analysts predict that International Seaways will post 7.77 EPS for the current year.

Insiders Place Their Bets

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $63.96, for a total value of $127,920.00. Following the sale, the chief executive officer owned 178,421 shares of the company’s stock, valued at $11,411,807.16. This trade represents a 1.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $63.29, for a total value of $63,290.00. Following the sale, the chief financial officer owned 83,463 shares of the company’s stock, valued at approximately $5,282,373.27. This trade represents a 1.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 9,000 shares of company stock worth $502,610 in the last quarter. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On International Seaways

Hedge funds have recently bought and sold shares of the stock. First Horizon Corp grew its stake in International Seaways by 121.6% in the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock worth $33,000 after buying an additional 377 shares in the last quarter. Federated Hermes Inc. grew its position in International Seaways by 99.5% in the third quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after acquiring an additional 378 shares in the last quarter. Leonteq Securities AG bought a new position in International Seaways in the fourth quarter valued at $44,000. Garton & Associates Financial Advisors LLC purchased a new stake in International Seaways during the fourth quarter valued at about $46,000. Finally, Founders Capital Management raised its position in International Seaways by 37.5% during the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 300 shares in the last quarter. 67.29% of the stock is currently 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.