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

International Seaways (NYSE:INSWGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The firm presently has a $24.00 target price on the transportation company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 10.14% from the stock’s previous close.

According to Zacks, “International Seaways, Inc. is a tanker company. It provides energy transportation services for crude oil and petroleum products. The company owns and operates a fleet which includes ULCC, eight VLCCs, eight Aframaxes/LR2s, 12 Panamaxes/LR1s and 20 MR tankers. International Seaways, Inc. is headquartered in New York City. “

INSW has been the topic of a number of other research reports. Jefferies Financial Group started coverage on International Seaways in a research note on Wednesday, April 27th. They set a “buy” rating and a $27.00 target price on the stock. StockNews.com raised International Seaways to a “sell” rating in a research note on Friday, April 29th. Finally, B. Riley reaffirmed a “buy” rating on shares of International Seaways in a research note on Tuesday, February 8th.

Shares of INSW stock opened at $21.79 on Wednesday. The stock has a market capitalization of $1.08 billion, a P/E ratio of -6.66 and a beta of -0.01. The company’s 50 day moving average is $18.89. International Seaways has a 1 year low of $13.05 and a 1 year high of $22.98. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.95 and a current ratio of 0.96.

International Seaways (NYSE:INSWGet Rating) last released its earnings results on Wednesday, March 2nd. The transportation company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.13). The business had revenue of $94.67 million for the quarter, compared to the consensus estimate of $101.84 million. International Seaways had a negative net margin of 48.98% and a negative return on equity of 7.94%. During the same period in the prior year, the company posted ($0.52) EPS. Equities research analysts expect that International Seaways will post 1.01 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Morgan Stanley lifted its holdings in International Seaways by 3,871.7% during the second quarter. Morgan Stanley now owns 148,659 shares of the transportation company’s stock worth $2,852,000 after buying an additional 144,916 shares during the period. SG Americas Securities LLC purchased a new stake in International Seaways during the third quarter worth $535,000. Victory Capital Management Inc. lifted its holdings in International Seaways by 14.1% during the third quarter. Victory Capital Management Inc. now owns 96,953 shares of the transportation company’s stock worth $1,766,000 after buying an additional 11,995 shares during the period. New York State Common Retirement Fund lifted its holdings in International Seaways by 39.7% during the third quarter. New York State Common Retirement Fund now owns 27,846 shares of the transportation company’s stock worth $507,000 after buying an additional 7,910 shares during the period. Finally, Raymond James & Associates purchased a new stake in International Seaways during the third quarter worth $324,000. 78.00% of the stock is currently owned by institutional investors.

International Seaways Company Profile (Get Rating)

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments, Crude Tankers and Product Carriers. As of December 31, 2021, the company owned and operated a fleet of 83 vessels, which include 12 chartered-in vessels, as well as had ownership interests in two floating storage and offloading service vessels.

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