BTIG Research Issues Positive Forecast for International Seaways (NYSE:INSW) Stock Price

International Seaways (NYSE:INSW) had its price objective upped by BTIG Research from $80.00 to $90.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the transportation company’s stock.

INSW has been the topic of several other reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 2nd. Pareto Securities raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Tuesday, January 20th. Benchmark reissued a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. Finally, Weiss Ratings downgraded shares of International Seaways from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $70.50.

International Seaways Trading Up 0.3%

NYSE INSW opened at $76.21 on Wednesday. International Seaways has a 1-year low of $31.49 and a 1-year high of $79.07. 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 company has a market capitalization of $3.77 billion, a PE ratio of 12.23 and a beta of -0.23. The firm’s fifty day simple moving average is $71.55 and its 200-day simple moving average is $58.74.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Thursday, February 26th. The transportation company reported $2.45 earnings per share 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 business 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 business posted $0.90 earnings per share. International Seaways’s revenue for the quarter was up 37.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Seaways will post 9.73 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Friday, March 20th were issued a dividend of $0.12 per share. 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 7.70%.

Insider Activity at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $74.57, for a total transaction of $149,140.00. Following the completion of the sale, the chief executive officer directly owned 206,745 shares in the company, valued at $15,416,974.65. This represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Treasurer Debra Grillo sold 389 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $76.27, for a total transaction of $29,669.03. Following the sale, the treasurer owned 1,185 shares of the company’s stock, valued at $90,379.95. This trade represents a 24.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 60,697 shares of company stock valued at $4,517,070. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On International Seaways

A number of hedge funds have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its stake in shares of International Seaways by 2.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company’s stock valued at $452,000 after buying an additional 200 shares during the period. Arizona State Retirement System lifted its stake in shares of International Seaways by 1.7% in the third quarter. Arizona State Retirement System now owns 12,409 shares of the transportation company’s stock valued at $572,000 after buying an additional 206 shares during the period. ProShare Advisors LLC lifted its stake in shares of International Seaways by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company’s stock valued at $380,000 after buying an additional 241 shares during the period. Evergreen Capital Management LLC lifted its stake in shares of International Seaways by 2.9% in the third quarter. Evergreen Capital Management LLC now owns 9,832 shares of the transportation company’s stock valued at $453,000 after buying an additional 274 shares during the period. Finally, Guggenheim Capital LLC lifted its stake in shares of International Seaways by 1.4% in the fourth quarter. Guggenheim Capital LLC now owns 19,760 shares of the transportation company’s stock valued at $959,000 after buying an additional 275 shares during the period. 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.