International Seaways (NYSE:INSW) Downgraded by Zacks Research to “Hold”

International Seaways (NYSE:INSW) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. Finally, Pareto Securities lowered International Seaways from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $52.67.

International Seaways Price Performance

Shares of INSW opened at $48.43 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.75. International Seaways has a 1-year low of $27.20 and a 1-year high of $55.18. The stock has a market cap of $2.39 billion, a PE ratio of 11.03 and a beta of -0.18. The firm has a fifty day moving average price of $50.79 and a 200 day moving average price of $46.02.

International Seaways (NYSE:INSW) last posted its earnings results on Wednesday, November 23rd. The transportation company reported ($0.63) EPS for the quarter. The firm had revenue of $84.82 million for the quarter. International Seaways had a return on equity of 10.13% and a net margin of 28.26%. As a group, sell-side analysts anticipate that International Seaways will post 7.77 EPS for the current year.

Insider Transactions at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction on Monday, December 15th. The stock was sold at an average price of $48.26, for a total transaction of $48,260.00. Following the completion of the transaction, the chief financial officer directly owned 75,242 shares of the company’s stock, valued at approximately $3,631,178.92. The trade was a 1.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO James D. Small III sold 20,000 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $53.60, for a total value of $1,072,000.00. Following the completion of the transaction, the chief accounting officer owned 49,292 shares of the company’s stock, valued at approximately $2,642,051.20. This represents a 28.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 32,500 shares of company stock worth $1,698,825 over the last quarter. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On International Seaways

A number of large investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. increased its stake in International Seaways by 99.5% during 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 during the last quarter. Advisory Services Network LLC acquired a new stake in International Seaways during the 3rd quarter worth approximately $53,000. EverSource Wealth Advisors LLC raised its holdings in International Seaways by 601.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,508 shares of the transportation company’s stock valued at $55,000 after buying an additional 1,293 shares during the period. Sunbelt Securities Inc. purchased a new position in International Seaways in the third quarter valued at approximately $64,000. Finally, Blue Trust Inc. increased its position in shares of International Seaways by 18.3% in the second quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company’s stock worth $68,000 after acquiring an additional 289 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

About International Seaways

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.