International Seaways (NYSE:INSW) Downgraded by StockNews.com to “Hold”

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

INSW has been the topic of a number of other research reports. Stifel Nicolaus increased their target price on International Seaways from $63.00 to $64.00 and gave the company a “buy” rating in a report on Friday, April 19th. Jefferies Financial Group restated a “buy” rating and set a $66.00 price objective on shares of International Seaways in a report on Thursday, February 29th.

International Seaways Stock Performance

Shares of INSW stock opened at $55.13 on Friday. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 4.90 and a beta of -0.05. The stock has a 50 day simple moving average of $52.74 and a 200-day simple moving average of $49.68. International Seaways has a 12-month low of $34.77 and a 12-month high of $55.59. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.35.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.10. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. The firm had revenue of $250.73 million during the quarter, compared to the consensus estimate of $239.36 million. On average, equities analysts forecast that International Seaways will post 9.42 EPS for the current year.

Insider Activity

In related news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $54.23, for a total value of $54,230.00. Following the completion of the transaction, the chief financial officer now directly owns 75,927 shares of the company’s stock, valued at approximately $4,117,521.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $54.23, for a total value of $54,230.00. Following the completion of the sale, the chief financial officer now directly owns 75,927 shares in the company, valued at $4,117,521.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lois K. Zabrocky sold 13,760 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $52.87, for a total value of $727,491.20. Following the completion of the sale, the chief executive officer now owns 148,942 shares of the company’s stock, valued at $7,874,563.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,846 shares of company stock valued at $3,073,978. 2.00% of the stock is currently owned by insiders.

Institutional Trading of International Seaways

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of 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 during the last quarter. Dimensional Fund Advisors LP increased its position in International Seaways by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,198,419 shares of the transportation company’s stock worth $145,464,000 after buying an additional 122,642 shares during the last quarter. Donald Smith & CO. Inc. increased its position in International Seaways by 24.6% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,613,803 shares of the transportation company’s stock worth $73,396,000 after buying an additional 318,962 shares during the last quarter. Hosking Partners LLP increased its position in International Seaways by 20.1% during the third quarter. Hosking Partners LLP now owns 964,530 shares of the transportation company’s stock worth $43,404,000 after buying an additional 161,643 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its position in International Seaways by 20.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 810,675 shares of the transportation company’s stock worth $36,869,000 after buying an additional 139,569 shares during the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

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.