International Seaways Inc. (NYSE:INSW) Stock Has Consensus Target Price of $109.80

International Seaways Inc. (NYSE:INSW) has earned an average rating of “Buy” from the eight ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $109.80.

Several equities research analysts have commented on INSW shares. B. Riley Financial increased their price objective on shares of International Seaways from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, October 5th. Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 7th. Weiss Ratings raised International Seaways from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $107.00 price target on shares of International Seaways in a report on Tuesday, September 1st. Finally, Jefferies Financial Group increased their price target 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.

Insiders Place Their Bets

In other International Seaways news, CEO Lois Zabrocky sold 2,000 shares of the firm’s stock in a transaction on 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 trade represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Baird Financial Group Inc. boosted its position in shares of International Seaways by 5.0% in the second quarter. Baird Financial Group Inc. now owns 248,506 shares of the transportation company’s stock valued at $19,033,000 after acquiring an additional 11,835 shares during the period. NewEdge Wealth LLC grew its stake in International Seaways by 43.1% during the first quarter. NewEdge Wealth LLC now owns 24,942 shares of the transportation company’s stock valued at $1,818,000 after acquiring an additional 7,511 shares in the last quarter. Man Group plc bought a new stake in International Seaways during the 2nd quarter worth approximately $867,000. Two Sigma Securities LLC bought a new stake in International Seaways during the 2nd quarter worth approximately $507,000. Finally, Energy Income Partners LLC bought a new stake in International Seaways during the 2nd quarter worth approximately $4,161,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Stock Performance

Shares of International Seaways stock opened at $124.97 on Wednesday. The company has a market cap of $6.19 billion, a PE ratio of 9.26, a price-to-earnings-growth ratio of 0.30 and a beta of -0.14. International Seaways has a 52 week low of $42.26 and a 52 week high of $125.40. The business has a 50 day moving average price of $104.37 and a 200-day moving average price of $90.31. The company has a quick ratio of 5.76, a current ratio of 5.94 and a debt-to-equity ratio of 0.27.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the firm earned $1.02 earnings per share. The firm’s revenue was up 138.9% on a year-over-year basis. Equities analysts anticipate that International Seaways will post 17.08 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were paid a $5.05 dividend. The ex-dividend date was Thursday, September 10th. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. This represents a $20.20 annualized dividend and a yield of 16.2%. International Seaways’s dividend payout ratio (DPR) is currently 129.16%.

About International Seaways

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.