International Seaways (NYSE:INSW) Price Target Raised to $80.00 at Deutsche Bank Aktiengesellschaft

International Seaways (NYSE:INSW) had its price objective lifted by investment analysts at Deutsche Bank Aktiengesellschaft from $63.00 to $80.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 5.74% from the stock’s previous close.

A number of other equities analysts have also commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Seaways in a report on Thursday, January 22nd. Wall Street Zen raised shares of International Seaways from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 2nd. Benchmark restated a “buy” rating on shares of International Seaways in a report on Thursday, February 26th. Finally, BTIG Research lifted their price objective on International Seaways from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $68.00.

International Seaways Price Performance

Shares of International Seaways stock traded up $3.25 during midday trading on Monday, reaching $75.66. The company had a trading volume of 819,567 shares, compared to its average volume of 599,518. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 12.12 and a beta of -0.23. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $60.41 and a 200 day simple moving average of $52.76. International Seaways has a 1-year low of $27.20 and a 1-year high of $78.51.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, February 26th. The transportation company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.70. The company had revenue of $267.88 million during the quarter, compared to analysts’ expectations of $245.29 million. International Seaways had a net margin of 36.67% and a return on equity of 13.92%. The business’s quarterly revenue was up 37.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 earnings per share. As a group, equities research analysts forecast that International Seaways will post 7.77 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Randee E. Day sold 2,635 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $75.40, for a total value of $198,679.00. Following the sale, the director directly owned 22,525 shares of the company’s stock, valued at $1,698,385. This represents a 10.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexandra Kate Blankenship sold 4,000 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $75.69, for a total transaction of $302,760.00. Following the completion of the sale, the director owned 15,213 shares in the company, valued at $1,151,471.97. The trade was a 20.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 51,218 shares of company stock valued at $3,692,217 over the last three months. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On International Seaways

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fearnley Asset Management AS purchased a new position in shares of International Seaways during the 4th quarter worth $6,258,000. Invesco Ltd. grew its position in shares of International Seaways by 27.9% during the fourth quarter. Invesco Ltd. now owns 341,939 shares of the transportation company’s stock worth $16,601,000 after acquiring an additional 74,635 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of International Seaways by 41.4% during the 4th quarter. Mackenzie Financial Corp now owns 19,760 shares of the transportation company’s stock worth $954,000 after purchasing an additional 5,783 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of International Seaways by 416.1% in the 4th quarter. NewEdge Advisors LLC now owns 10,807 shares of the transportation company’s stock valued at $525,000 after buying an additional 8,713 shares in the last quarter. Finally, Garton & Associates Financial Advisors LLC bought a new position in International Seaways during the fourth quarter valued at approximately $46,000. 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.