International Seaways (NYSE:INSW) Rating Increased to Buy at Wall Street Zen

International Seaways (NYSE:INSW) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other analysts have also issued reports on INSW. Pareto Securities upgraded shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Tuesday, January 20th. BTIG Research boosted their price objective on shares of International Seaways from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Benchmark restated a “buy” rating on shares of International Seaways in a research note on Thursday, February 26th. Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a report on Monday, March 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of International Seaways in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, International Seaways presently has a consensus rating of “Buy” and an average price target of $64.00.

International Seaways Trading Down 0.1%

INSW opened at $72.45 on Friday. International Seaways has a twelve month low of $27.20 and a twelve month high of $78.51. The company has a 50-day simple moving average of $60.41 and a 200 day simple moving average of $52.61. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 11.63 and a beta of -0.23.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, February 26th. The transportation company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.70. International Seaways had a net margin of 36.67% and a return on equity of 13.92%. The firm had revenue of $267.88 million for the quarter, compared to the consensus estimate of $245.29 million. During the same period in the prior year, the company posted $0.90 earnings per share. The business’s revenue for the quarter was up 37.7% on a year-over-year basis. Analysts predict that International Seaways will post 7.77 EPS for the current fiscal year.

Insider Activity at International Seaways

In other International Seaways news, Director Randee E. Day sold 2,635 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $75.40, for a total value of $198,679.00. Following the sale, the director owned 22,525 shares in the company, valued at $1,698,385. This trade represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Derek G. Solon sold 6,000 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $75.41, for a total transaction of $452,460.00. Following the sale, the senior vice president directly owned 50,989 shares in the company, valued at approximately $3,845,080.49. The trade was a 10.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 51,218 shares of company stock worth $3,692,217 in the last ninety days. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of INSW. Royal Bank of Canada boosted its holdings in shares of International Seaways by 42.0% during the 1st quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company’s stock valued at $311,000 after acquiring an additional 2,768 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in International Seaways by 3.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company’s stock worth $800,000 after purchasing an additional 900 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in International Seaways by 16.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company’s stock worth $4,264,000 after purchasing an additional 18,509 shares in the last quarter. Envestnet Asset Management Inc. raised its position in International Seaways by 7.8% in the second quarter. Envestnet Asset Management Inc. now owns 156,745 shares of the transportation company’s stock valued at $5,718,000 after purchasing an additional 11,301 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in International Seaways by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 319,280 shares of the transportation company’s stock valued at $11,647,000 after purchasing an additional 4,902 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors.

About International Seaways

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.