International Seaways (NYSE:INSW) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of International Seaways (NYSE:INSW) from a hold rating to a strong-buy rating in a research note released on Monday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. BTIG Research increased their price objective on International Seaways from $70.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Benchmark reaffirmed a “buy” rating on shares of International Seaways in a report on Thursday, February 26th. Pareto Securities upgraded shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Tuesday, January 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of International Seaways in a report on Thursday, January 22nd. Finally, Wall Street Zen cut shares of International Seaways from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, International Seaways has an average rating of “Buy” and a consensus price target of $64.00.

International Seaways Trading Down 1.3%

Shares of NYSE:INSW opened at $75.50 on Monday. International Seaways has a 52 week low of $27.20 and a 52 week high of $78.51. The company’s 50 day moving average is $58.89 and its two-hundred day moving average is $52.10. The company has a market cap of $3.73 billion, a PE 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.

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

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, March 20th will be paid a $0.12 dividend. The ex-dividend date is Friday, March 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. International Seaways’s payout ratio is currently 7.70%.

Insider Buying and Selling

In other news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $63.29, for a total value of $63,290.00. Following the transaction, the chief financial officer directly owned 83,463 shares of the company’s stock, valued at $5,282,373.27. The trade was a 1.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $48.56, for a total transaction of $97,120.00. Following the completion of the sale, the chief executive officer owned 182,421 shares of the company’s stock, valued at approximately $8,858,363.76. This trade represents a 1.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 9,000 shares of company stock worth $502,610. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On International Seaways

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First Horizon Corp raised its stake in International Seaways by 121.6% during the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 377 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of International Seaways by 99.5% in the third quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 378 shares during the period. Leonteq Securities AG acquired a new position in shares of International Seaways in the fourth quarter valued at approximately $44,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of International Seaways during the fourth quarter worth approximately $46,000. Finally, Founders Capital Management lifted its holdings in shares of International Seaways by 37.5% during the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock worth $53,000 after purchasing an additional 300 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.