International Seaways (NYSE:INSW) Upgraded by Wall Street Zen to “Strong-Buy” Rating

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

Other research analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft raised their target price on International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a report on Monday, March 2nd. Weiss Ratings upgraded shares of International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. BTIG Research upped their target price on shares of International Seaways from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, Benchmark reiterated a “buy” rating on shares of International Seaways in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $68.00.

International Seaways Trading Up 1.5%

Shares of INSW opened at $71.09 on Friday. International Seaways has a 1-year low of $27.20 and a 1-year high of $78.51. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 0.27. The firm’s 50-day moving average price is $65.87 and its 200-day moving average price is $55.24. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 11.41 and a beta of -0.23.

International Seaways (NYSE:INSW) last released its quarterly earnings results 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 company had revenue of $267.88 million during the quarter, compared to the consensus estimate of $245.29 million. During the same period in the prior year, the firm earned $0.90 earnings per share. International Seaways’s revenue was up 37.7% on a year-over-year basis. Sell-side analysts anticipate that International Seaways will post 7.77 EPS for the current year.

Insider Activity

In other news, Director Randee E. Day sold 4,090 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $74.93, for a total transaction of $306,463.70. Following the completion of the transaction, the director directly owned 18,435 shares in the company, valued at $1,381,334.55. This trade represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO James D. Small III sold 20,000 shares of International Seaways stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $75.37, for a total value of $1,507,400.00. Following the completion of the transaction, the chief accounting officer directly owned 36,376 shares of the company’s stock, valued at approximately $2,741,659.12. This represents a 35.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 60,697 shares of company stock valued at $4,459,450. 2.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in INSW. Dimensional Fund Advisors LP increased its position in shares of International Seaways by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,972,012 shares of the transportation company’s stock valued at $144,290,000 after acquiring an additional 68,248 shares in the last quarter. American Century Companies Inc. lifted its position in International Seaways by 7.5% in the 3rd quarter. American Century Companies Inc. now owns 1,994,978 shares of the transportation company’s stock valued at $91,929,000 after acquiring an additional 139,868 shares in the last quarter. Geode Capital Management LLC boosted its stake in International Seaways by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,010,815 shares of the transportation company’s stock valued at $49,083,000 after purchasing an additional 4,250 shares during the last quarter. Donald Smith & CO. Inc. boosted its stake in International Seaways by 43.9% during the 2nd quarter. Donald Smith & CO. Inc. now owns 709,036 shares of the transportation company’s stock valued at $25,866,000 after purchasing an additional 216,325 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of International Seaways by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company’s stock worth $31,013,000 after purchasing an additional 12,188 shares in the last quarter. Institutional investors own 67.29% of the company’s stock.

International Seaways Company Profile

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.