International Seaways (NYSE:INSW) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of International Seaways (NYSE:INSW) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday.

Several other brokerages have also issued reports on INSW. BTIG Research upped their target price on International Seaways from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a report on Monday, March 2nd. Pareto Securities upgraded shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Tuesday, January 20th. Benchmark reaffirmed a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $68.00.

International Seaways Price Performance

NYSE INSW opened at $70.92 on Friday. The firm’s fifty day simple moving average is $66.16 and its two-hundred day simple moving average is $55.53. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 0.27. International Seaways has a 12-month low of $27.20 and a 12-month high of $78.51. The firm has a market capitalization of $3.50 billion, a P/E ratio of 11.38 and a beta of -0.23.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Thursday, February 26th. The transportation company reported $2.45 EPS for the quarter, beating the consensus estimate of $1.75 by $0.70. The firm had revenue of $267.88 million during the quarter, compared to analyst estimates of $245.29 million. International Seaways had a return on equity of 13.92% and a net margin of 36.67%.The business’s revenue for the quarter was up 37.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.90 EPS. Analysts forecast that International Seaways will post 7.77 EPS for the current fiscal year.

International Seaways Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Friday, March 20th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, March 20th. International Seaways’s dividend payout ratio (DPR) is currently 7.70%.

Insider Buying and Selling at International Seaways

In related news, CAO James D. Small III sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $75.37, for a total transaction of $1,507,400.00. Following the sale, the chief accounting officer directly owned 36,376 shares of the company’s stock, valued at $2,741,659.12. This trade represents a 35.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Derek G. Solon sold 6,000 shares of International Seaways stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $75.41, for a total value of $452,460.00. Following the transaction, the senior vice president owned 50,989 shares of the company’s stock, valued at approximately $3,845,080.49. This represents a 10.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 60,697 shares of company stock worth $4,459,450. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On International Seaways

Several hedge funds have recently bought and sold shares of INSW. Pacer Advisors Inc. boosted its holdings in International Seaways by 4,255.3% during the third quarter. Pacer Advisors Inc. now owns 197,380 shares of the transportation company’s stock worth $9,095,000 after buying an additional 192,848 shares in the last quarter. Marex Group plc acquired a new stake in International Seaways during the second quarter valued at $4,276,000. Denali Advisors LLC increased its holdings in International Seaways by 94.3% in the third quarter. Denali Advisors LLC now owns 48,774 shares of the transportation company’s stock valued at $2,248,000 after buying an additional 23,674 shares in the last quarter. American Century Companies Inc. raised its position in shares of International Seaways by 7.5% in the third quarter. American Century Companies Inc. now owns 1,994,978 shares of the transportation company’s stock worth $91,929,000 after acquiring an additional 139,868 shares during the period. Finally, Creative Planning raised its position in shares of International Seaways by 270.9% in the second quarter. Creative Planning now owns 30,981 shares of the transportation company’s stock worth $1,130,000 after acquiring an additional 22,628 shares during the period. 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.