International Seaways (NYSE:INSW) Stock Rating Upgraded by StockNews.com

International Seaways (NYSE:INSW) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

A number of other equities analysts have also recently commented on INSW. BTIG Research lifted their target price on shares of International Seaways from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, September 28th. Stifel Nicolaus decreased their target price on shares of International Seaways from $65.00 to $58.00 and set a “buy” rating on the stock in a research report on Wednesday, July 19th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $60.20.

International Seaways Stock Performance

International Seaways stock opened at $47.60 on Thursday. The stock has a market cap of $2.33 billion, a P/E ratio of 3.67 and a beta of 0.09. The firm’s fifty day moving average price is $44.72 and its 200-day moving average price is $41.40. International Seaways has a fifty-two week low of $33.04 and a fifty-two week high of $53.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.26 and a current ratio of 2.53.

International Seaways (NYSE:INSW) last issued its earnings results on Wednesday, August 9th. The transportation company reported $3.12 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.42. The company had revenue of $292.20 million for the quarter, compared to analysts’ expectations of $262.66 million. International Seaways had a net margin of 55.45% and a return on equity of 39.60%. On average, equities research analysts expect that International Seaways will post 10.09 earnings per share for the current fiscal year.

Insider Buying and Selling at International Seaways

In other International Seaways news, Director Douglas D. Wheat sold 8,000 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $46.00, for a total value of $368,000.00. Following the transaction, the director now owns 29,902 shares in the company, valued at $1,375,492. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Douglas D. Wheat sold 8,000 shares of International Seaways stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $46.00, for a total transaction of $368,000.00. Following the sale, the director now owns 29,902 shares of the company’s stock, valued at approximately $1,375,492. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lois K. Zabrocky sold 1,000 shares of International Seaways stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $43.53, for a total transaction of $43,530.00. Following the sale, the chief executive officer now directly owns 142,244 shares in the company, valued at approximately $6,191,881.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,500 shares of company stock worth $613,395. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On International Seaways

A number of large investors have recently modified their holdings of INSW. Federated Hermes Inc. bought a new stake in shares of International Seaways during the 3rd quarter valued at about $28,000. Point72 Asset Management L.P. boosted its stake in International Seaways by 55.2% during the second quarter. Point72 Asset Management L.P. now owns 1,015 shares of the transportation company’s stock worth $39,000 after acquiring an additional 361 shares in the last quarter. Coppell Advisory Solutions Corp. bought a new stake in International Seaways during the fourth quarter worth about $46,000. Compagnie Lombard Odier SCmA bought a new stake in International Seaways during the first quarter worth about $58,000. Finally, Spire Wealth Management boosted its stake in International Seaways by 33.6% during the first quarter. Spire Wealth Management now owns 1,392 shares of the transportation company’s stock worth $58,000 after acquiring an additional 350 shares in the last quarter. Institutional investors own 63.08% of the company’s stock.

About International Seaways

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. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.