International Seaways Inc. (NYSE:INSW) Stock Rated “Buy” by Sell-Side Analysts

International Seaways Inc. (NYSE:INSW) has been assigned a consensus recommendation of “Buy” from the eight analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $109.80.

INSW has been the subject of several research analyst reports. B. Riley Financial upped their target price on shares of International Seaways from $120.00 to $140.00 and gave the company a “buy” rating in a report on Monday, October 5th. Weiss Ratings upgraded shares of International Seaways from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $107.00 price target on shares of International Seaways in a research report on Tuesday, September 1st. BTIG Research upped their price objective on shares of International Seaways from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, September 18th. Finally, Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 7th.

Insider Buying and Selling at International Seaways

In related news, CEO Lois Zabrocky sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $108.01, for a total value of $216,020.00. Following the completion of the sale, the chief executive officer directly owned 171,745 shares of the company’s stock, valued at $18,550,177.45. This represents a 1.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in INSW. BlackRock Inc. acquired a new stake in shares of International Seaways in the second quarter valued at approximately $505,153,000. Dimensional Fund Advisors LP grew its position in shares of International Seaways by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 3,024,755 shares of the transportation company’s stock worth $220,436,000 after acquiring an additional 52,743 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of International Seaways by 167.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company’s stock valued at $44,330,000 after acquiring an additional 380,931 shares during the period. Bridgeway Capital Management LLC increased its holdings in shares of International Seaways by 7.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 414,688 shares of the transportation company’s stock valued at $20,133,000 after acquiring an additional 27,818 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of International Seaways in the 2nd quarter valued at $21,082,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Price Performance

Shares of NYSE INSW opened at $119.95 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94. International Seaways has a fifty-two week low of $42.26 and a fifty-two week high of $122.75. The firm has a market capitalization of $5.94 billion, a PE ratio of 7.67, a price-to-earnings-growth ratio of 0.29 and a beta of -0.14. The stock’s 50-day simple moving average is $103.15 and its 200-day simple moving average is $89.56.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $406.38 million. During the same period in the prior year, the firm posted $1.02 earnings per share. The firm’s revenue was up 138.9% on a year-over-year basis. As a group, equities research analysts forecast that International Seaways will post 17.08 EPS for the current fiscal year.

International Seaways Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were issued a $5.05 dividend. This represents a $20.20 annualized dividend and a dividend yield of 16.8%. The ex-dividend date of this dividend was Thursday, September 10th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio (DPR) is presently 129.16%.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is a maritime transportation company that owns and operates oceangoing tankers. The company transports crude oil, refined petroleum products and other liquid cargoes for energy producers, commodity traders, refiners and other customers worldwide.

Its fleet includes crude-oil tankers serving major international trade routes, as well as product tankers used to move gasoline, diesel, jet fuel and other refined petroleum products. International Seaways employs a combination of time-charter, voyage-charter and pool arrangements to market its vessels and provide transportation services.

International Seaways was established in 2016 through the separation of the international tanker business from Overseas Shipholding Group.