International Seaways Inc. (NYSE:INSW) Receives $68.00 Average Target Price from Brokerages

Shares of International Seaways Inc. (NYSE:INSW) have been assigned an average recommendation of “Buy” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $68.00.

Several research analysts have recently commented on INSW shares. Pareto Securities raised International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Tuesday, January 20th. Weiss Ratings downgraded International Seaways from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, April 7th. BTIG Research increased their target price on shares of International Seaways from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Deutsche Bank Aktiengesellschaft raised their target price on shares of International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Finally, Wall Street Zen raised shares of International Seaways from a “buy” rating to a “strong-buy” rating in a report on Monday, April 13th.

Insider Buying and Selling at International Seaways

In other International Seaways news, Director Alexandra Kate Blankenship sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $74.88, for a total value of $374,400.00. Following the completion of the transaction, the director directly owned 10,213 shares in the company, valued at $764,749.44. This represents a 32.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $74.57, for a total transaction of $149,140.00. Following the sale, the chief executive officer directly owned 206,745 shares of the company’s stock, valued at approximately $15,416,974.65. This trade represents a 0.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 60,697 shares of company stock valued at $4,517,070. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On International Seaways

A number of hedge funds and other institutional investors have recently modified their holdings of INSW. Baker Ellis Asset Management LLC purchased a new position in International Seaways during the first quarter valued at $292,000. Rockefeller Capital Management L.P. lifted its stake in International Seaways by 583.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after purchasing an additional 822 shares in the last quarter. Fearnley Asset Management AS purchased a new stake in International Seaways in the 4th quarter worth $6,258,000. Invesco Ltd. boosted its holdings in shares of International Seaways by 27.9% during the 4th quarter. Invesco Ltd. now owns 341,939 shares of the transportation company’s stock valued at $16,601,000 after purchasing an additional 74,635 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of International Seaways by 41.4% during the 4th quarter. Mackenzie Financial Corp now owns 19,760 shares of the transportation company’s stock valued at $954,000 after purchasing an additional 5,783 shares during the last quarter. Institutional investors own 67.29% of the company’s stock.

International Seaways Trading Up 1.1%

Shares of INSW stock opened at $76.50 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.71 and a quick ratio of 3.71. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 12.28 and a beta of -0.23. International Seaways has a 1 year low of $31.49 and a 1 year high of $78.51. The firm has a fifty day moving average price of $70.65 and a 200-day moving average price of $58.02.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, February 26th. The transportation company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.70. International Seaways had a return on equity of 13.92% and a net margin of 36.67%.The company had revenue of $267.88 million for the quarter, compared to analysts’ expectations of $245.29 million. During the same period last year, the firm earned $0.90 EPS. International Seaways’s revenue for the quarter was up 37.7% compared to the same quarter last year. As a group, equities analysts predict that International Seaways will post 7.77 earnings per share for the current year.

International Seaways Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Friday, March 20th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, March 20th. International Seaways’s dividend payout ratio is presently 7.70%.

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.