International Seaways (NYSE:INSW) Price Target Raised to $130.00

International Seaways (NYSE:INSW) had its price target raised by investment analysts at BTIG Research from $100.00 to $130.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. BTIG Research’s price objective indicates a potential upside of 17.64% from the stock’s previous close.

A number of other research firms also recently issued reports on INSW. Weiss Ratings reiterated a “buy (b-)” rating on shares of International Seaways in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $107.00 target price on shares of International Seaways in a report on Tuesday, September 1st. Jefferies Financial Group raised their target price on shares of International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Finally, Zacks Research cut shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, International Seaways currently has an average rating of “Moderate Buy” and a consensus target price of $102.25.

International Seaways Stock Up 1.0%

NYSE:INSW opened at $110.50 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94. The company has a market cap of $5.47 billion, a PE ratio of 7.07, a PEG ratio of 0.28 and a beta of -0.13. International Seaways has a 52-week low of $42.26 and a 52-week high of $113.13. The stock has a 50-day simple moving average of $96.38 and a 200 day simple moving average of $85.01.

International Seaways (NYSE:INSW) last announced its earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.55 by $0.36. The business had revenue of $467.29 million for the quarter, compared to analyst estimates of $406.38 million. International Seaways had a return on equity of 31.75% and a net margin of 61.98%.International Seaways’s revenue for the quarter was up 138.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.02 EPS. On average, sell-side analysts expect that International Seaways will post 16.09 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Lois Zabrocky sold 2,000 shares of International Seaways stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $108.01, for a total value of $216,020.00. Following the completion of the transaction, the chief executive officer owned 171,745 shares of the company’s stock, valued at $18,550,177.45. This trade represents a 1.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Seaways

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in International Seaways in the second quarter valued at approximately $505,153,000. Dimensional Fund Advisors LP boosted its stake in shares of International Seaways by 1.8% during the 1st 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 period. Arrowstreet Capital Limited Partnership increased its holdings in shares of International Seaways by 167.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company’s stock worth $44,330,000 after acquiring an additional 380,931 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of International Seaways during the 2nd quarter worth approximately $21,082,000. Finally, Bridgeway Capital Management LLC raised its stake in 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. 67.29% of the stock is currently owned by institutional investors and hedge funds.

International Seaways Company Profile

International Seaways, Inc is a maritime transportation company that owns and operates oceangoing vessels used to transport crude oil, refined petroleum products and other liquid bulk cargoes. Its fleet includes crude oil tankers and product carriers serving energy companies, commodity traders and other customers in international shipping markets.

The company’s vessels operate on routes connecting major oil-producing, refining and consuming regions around the world. International Seaways generates revenue through a combination of time-charter arrangements, voyage charters and other commercial agreements, allowing customers to use its ships for the global movement of energy products.

International Seaways became an independent public company in 2016 through a separation from Overseas Shipholding Group.