International Seaways (NYSE:INSW) Given New $64.00 Price Target at Stifel Nicolaus

International Seaways (NYSE:INSW) had its price target lifted by analysts at Stifel Nicolaus from $63.00 to $64.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Stifel Nicolaus’ price target points to a potential upside of 20.69% from the stock’s previous close.

A number of other research analysts have also weighed in on INSW. Jefferies Financial Group reissued a “buy” rating and set a $66.00 target price on shares of International Seaways in a report on Thursday, February 29th. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a report on Wednesday.

International Seaways Trading Up 2.8 %

NYSE:INSW opened at $53.03 on Friday. International Seaways has a 1-year low of $34.77 and a 1-year high of $55.59. The business’s 50-day moving average price is $52.64 and its two-hundred day moving average price is $49.36. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 4.71 and a beta of -0.05.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, February 29th. The transportation company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.10. The company had revenue of $250.73 million for the quarter, compared to analyst estimates of $239.36 million. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. On average, equities analysts expect that International Seaways will post 9.27 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Douglas D. Wheat sold 3,846 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $51.22, for a total value of $196,992.12. Following the completion of the sale, the director now owns 26,056 shares of the company’s stock, valued at $1,334,588.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Douglas D. Wheat sold 3,846 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $51.22, for a total transaction of $196,992.12. Following the sale, the director now owns 26,056 shares in the company, valued at approximately $1,334,588.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $53.39, for a total value of $53,390.00. Following the sale, the chief financial officer now owns 69,010 shares in the company, valued at approximately $3,684,443.90. The disclosure for this sale can be found here. Insiders sold a total of 58,846 shares of company stock valued at $3,073,978 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On International Seaways

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in International Seaways by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 3,700,058 shares of the transportation company’s stock worth $168,279,000 after acquiring an additional 119,000 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of International Seaways by 1.3% in the third quarter. BlackRock Inc. now owns 3,365,733 shares of the transportation company’s stock valued at $118,238,000 after purchasing an additional 43,736 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of International Seaways by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,198,419 shares of the transportation company’s stock valued at $145,464,000 after purchasing an additional 122,642 shares in the last quarter. Donald Smith & CO. Inc. lifted its holdings in shares of International Seaways by 24.6% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,613,803 shares of the transportation company’s stock valued at $73,396,000 after purchasing an additional 318,962 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of International Seaways by 5.0% in the first quarter. State Street Corp now owns 1,186,385 shares of the transportation company’s stock valued at $49,449,000 after purchasing an additional 56,497 shares in the last quarter. Institutional investors own 67.29% of the company’s stock.

International Seaways Company Profile

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, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.