International Seaways (NYSE:INSW) Reaches New 52-Week High – Time to Buy?

International Seaways Inc. (NYSE:INSW) hit a new 52-week high on Friday . The stock traded as high as $92.85 and last traded at $92.3360, with a volume of 46941 shares changing hands. The stock had previously closed at $91.35.

Analyst Ratings Changes

Several analysts have recently commented on the company. BTIG Research raised their target price on International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Wall Street Zen raised International Seaways from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 13th. Zacks Research lowered International Seaways from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 25th. Weiss Ratings upgraded International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, Pareto Securities cut International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $86.00.

International Seaways Stock Performance

The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 8.40 and a beta of -0.12. The company’s fifty day simple moving average is $83.75 and its two-hundred day simple moving average is $74.38. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.34 and a quick ratio of 7.28.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $1.03. The firm had revenue of $325.48 million during the quarter, compared to analysts’ expectations of $279.34 million. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The business’s revenue was up 77.5% on a year-over-year basis. During the same period last year, the company earned $0.80 earnings per share. On average, analysts forecast that International Seaways Inc. will post 15.62 earnings per share for the current year.

International Seaways Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.48 annualized dividend and a yield of 0.5%. International Seaways’s dividend payout ratio (DPR) is presently 4.37%.

Insider Buying and Selling

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $81.68, for a total transaction of $81,680.00. Following the completion of the sale, the chief financial officer directly owned 101,984 shares of the company’s stock, valued at approximately $8,330,053.12. The trade was a 0.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP William F. Nugent sold 6,830 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $85.23, for a total value of $582,120.90. Following the completion of the sale, the senior vice president directly owned 49,169 shares of the company’s stock, valued at approximately $4,190,673.87. This trade represents a 12.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 42,530 shares of company stock worth $3,699,995 over the last 90 days. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On International Seaways

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Horizon Corp lifted its stake in International Seaways by 121.6% during the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 377 shares in the last quarter. Leonteq Securities AG bought a new stake in shares of International Seaways in the 4th quarter worth $44,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of International Seaways in the 4th quarter worth $46,000. Rockefeller Capital Management L.P. raised its holdings in shares of International Seaways by 583.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 822 shares during the last quarter. Finally, Founders Capital Management raised its holdings in shares of International Seaways by 37.5% in the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 300 shares during the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

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.