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

Wall Street Zen upgraded shares of International Seaways (NYSE:INSW) from a hold rating to a buy rating in a research note published on Friday.

Other research analysts also recently issued reports about the stock. Zacks Research downgraded shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a research note on Wednesday, October 8th. Finally, Pareto Securities upgraded 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. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, International Seaways has a consensus rating of “Moderate Buy” and an average price target of $57.33.

International Seaways Trading Up 1.7%

Shares of NYSE:INSW opened at $57.28 on Friday. The stock’s 50-day simple moving average is $51.80 and its two-hundred day simple moving average is $47.50. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 13.05 and a beta of -0.18. International Seaways has a 52-week low of $27.20 and a 52-week high of $58.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.75.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, November 6th. The transportation company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.91 by $0.24. The firm had revenue of $196.39 million during the quarter, compared to analyst estimates of $180.92 million. International Seaways had a net margin of 28.26% and a return on equity of 10.13%. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.57 EPS. Analysts expect that International Seaways will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Tuesday, December 9th were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.8%. International Seaways’s dividend payout ratio is 10.93%.

Insider Activity

In other news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $55.68, for a total value of $55,680.00. Following the transaction, the chief financial officer directly owned 79,073 shares in the company, valued at $4,402,784.64. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Derek G. Solon sold 3,500 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $53.71, for a total value of $187,985.00. Following the completion of the transaction, the senior vice president directly owned 49,393 shares of the company’s stock, valued at approximately $2,652,898.03. This trade represents a 6.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 32,500 shares of company stock worth $1,732,605 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in INSW. Royal Bank of Canada boosted its stake in International Seaways by 42.0% in the 1st quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company’s stock worth $311,000 after purchasing an additional 2,768 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of International Seaways by 3.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company’s stock worth $800,000 after acquiring an additional 900 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in International Seaways by 16.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company’s stock valued at $4,264,000 after acquiring an additional 18,509 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in International Seaways during the second quarter valued at $325,000. Finally, GAMMA Investing LLC increased its holdings in International Seaways by 193.4% in the 2nd quarter. GAMMA Investing LLC now owns 3,412 shares of the transportation company’s stock valued at $124,000 after acquiring an additional 2,249 shares during the last quarter. 67.29% of the stock is owned by hedge funds and other 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.