International Seaways (NYSE:INSW) Raised to “Strong-Buy” at Wall Street Zen

International Seaways (NYSE:INSW) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other analysts also recently weighed in on the company. BTIG Research lifted their price objective on International Seaways from $100.00 to $130.00 and gave the company a “buy” rating in a report on Friday, September 18th. B. Riley Financial increased their target price on shares of International Seaways from $120.00 to $140.00 and gave the stock a “buy” rating in a report 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. 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, Weiss Ratings upgraded shares of International Seaways from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, International Seaways currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.80.

International Seaways Stock Up 0.1%

Shares of NYSE:INSW opened at $98.15 on Friday. International Seaways has a 52-week low of $46.09 and a 52-week high of $126.27. The stock has a market cap of $5.02 billion, a P/E ratio of 4.65, a price-to-earnings-growth ratio of 0.20 and a beta of -0.10. The business’s 50 day moving average is $108.69 and its 200 day moving average is $86.58. The company has a quick ratio of 6.53, a current ratio of 6.69 and a debt-to-equity ratio of 0.28.

International Seaways (NYSE:INSW) last issued its earnings results on Thursday, November 5th. The transportation company reported $5.84 earnings per share for the quarter, missing analysts’ consensus estimates of $6.13 by ($0.29). The firm had revenue of $483.20 million for the quarter, compared to the consensus estimate of $349.50 million. International Seaways had a net margin of 68.19% and a return on equity of 40.81%. The company’s revenue for the quarter was up 146.0% on a year-over-year basis. During the same period last year, the firm earned $1.15 earnings per share. Sell-side analysts predict that International Seaways will post 22.29 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Finance Ltd Famatown sold 64,821 shares of the firm’s stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $125.05, for a total transaction of $8,105,866.05. Following the sale, the insider owned 6,500,566 shares of the company’s stock, valued at $812,895,778.30. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Lois Zabrocky sold 2,000 shares of International Seaways stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $114.23, for a total value of $228,460.00. Following the completion of the transaction, the chief executive officer owned 169,745 shares in the company, valued at $19,389,971.35. This trade represents a 1.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 655,028 shares of company stock valued at $76,362,341 over the last 90 days. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Quantbot Technologies LP acquired a new stake in International Seaways in the 2nd quarter worth approximately $28,000. Root Financial Partners LLC purchased a new stake in International Seaways during the 3rd quarter worth approximately $33,000. Mather Group LLC. grew its position in International Seaways by 100.0% during the 3rd quarter. Mather Group LLC. now owns 400 shares of the transportation company’s stock worth $44,000 after purchasing an additional 200 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in International Seaways by 583.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 822 shares in the last quarter. Finally, Allworth Financial LP acquired a new position in International Seaways during the 2nd quarter valued at approximately $48,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

About International Seaways

International Seaways, Inc is an international owner and operator of oceangoing tanker vessels. The company transports crude oil and refined petroleum products for energy companies and other customers.

Its fleet includes crude-oil tankers and product carriers that serve global shipping routes, connecting oil-producing regions with refineries and end markets. International Seaways also uses commercial arrangements such as vessel pools and charter contracts to market its ships.

The company became an independent publicly traded business in 2016 after being spun off from Overseas Shipholding Group.