Brokerages Set International Seaways Inc. (NYSE:INSW) Price Target at $86.00

International Seaways Inc. (NYSE:INSW) has received a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $86.00.

A number of research firms recently weighed in on INSW. Zacks Research lowered shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 25th. Wall Street Zen raised International Seaways from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 13th. Deutsche Bank Aktiengesellschaft increased their price target on shares of International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Pareto Securities downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Finally, BTIG Research increased their target price on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th.

Insider Buying and Selling

In other news, SVP Derek G. Solon sold 4,700 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $89.22, for a total transaction of $419,334.00. Following the sale, the senior vice president directly owned 49,719 shares of the company’s stock, valued at $4,435,929.18. This represents a 8.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $81.68, for a total value of $81,680.00. Following the transaction, the chief financial officer owned 101,984 shares of the company’s stock, valued at $8,330,053.12. This represents a 0.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 45,530 shares of company stock worth $3,923,635 over the last ninety days. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of International Seaways

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake in International Seaways by 42.0% in the first quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company’s stock worth $311,000 after purchasing an additional 2,768 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of International Seaways by 3.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company’s stock worth $800,000 after purchasing an additional 900 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in International Seaways by 16.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company’s stock valued at $4,264,000 after purchasing an additional 18,509 shares in the last quarter. Prudential Financial Inc. bought a new position in shares of International Seaways during the 2nd quarter worth approximately $223,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of International Seaways in the 2nd quarter worth $1,626,000. 67.29% of the stock is currently owned by institutional investors.

International Seaways Stock Performance

Shares of INSW stock opened at $82.35 on Monday. The firm has a market capitalization of $4.08 billion, a PE ratio of 7.50 and a beta of -0.12. The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26. International Seaways has a 12 month low of $37.72 and a 12 month high of $92.66. The firm has a fifty day simple moving average of $82.82 and a two-hundred day simple moving average of $70.22.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $1.03. The business had revenue of $325.48 million during the quarter, compared to analyst estimates of $279.34 million. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.International Seaways’s quarterly revenue was up 77.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 EPS. Analysts forecast that International Seaways will post 14.99 EPS for the current fiscal year.

International Seaways Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, June 12th. International Seaways’s dividend payout ratio is currently 4.37%.

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.