Deutsche Bank Aktiengesellschaft Issues Positive Forecast for International Seaways (NYSE:INSW) Stock Price

International Seaways (NYSE:INSW) had its price target upped by Deutsche Bank Aktiengesellschaft from $63.00 to $80.00 in a report released on Monday morning,Benzinga reports. The firm currently has a buy rating on the transportation company’s stock.

INSW has been the subject of several other reports. Benchmark reissued a “buy” rating on shares of International Seaways in a research note on Thursday, February 26th. 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 price objective for the company in a research report on Tuesday, January 20th. BTIG Research boosted their price objective on shares of International Seaways from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, Wall Street Zen raised shares of International Seaways from a “hold” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $68.00.

International Seaways Stock Performance

INSW opened at $75.93 on Monday. International Seaways has a 52-week low of $27.20 and a 52-week high of $78.51. The firm has a market capitalization of $3.75 billion, a PE ratio of 12.19 and a beta of -0.23. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.71 and a current ratio of 3.71. The business’s 50-day simple moving average is $60.94 and its 200 day simple moving average is $52.99.

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, beating 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 firm had revenue of $267.88 million during the quarter, compared to the consensus estimate of $245.29 million. During the same period last year, the company earned $0.90 earnings per share. The business’s revenue was up 37.7% compared to the same quarter last year. As a group, sell-side analysts expect that International Seaways will post 7.77 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, March 20th will be given 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 of this dividend is Friday, March 20th. International Seaways’s payout ratio is 7.70%.

Insider Transactions at International Seaways

In other news, SVP Derek G. Solon sold 6,000 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $75.41, for a total transaction of $452,460.00. Following the completion of the sale, the senior vice president owned 50,989 shares in the company, valued at approximately $3,845,080.49. This trade represents a 10.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction of $1,507,400.00. Following the sale, the chief accounting officer directly owned 36,376 shares of the company’s stock, valued at $2,741,659.12. The trade was a 35.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 51,218 shares of company stock valued at $3,692,217. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On International Seaways

Several hedge funds have recently bought and sold shares of the stock. Fearnley Asset Management AS bought a new stake in shares of International Seaways during the fourth quarter worth approximately $6,258,000. Invesco Ltd. boosted its stake in International Seaways by 27.9% in 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 period. Mackenzie Financial Corp boosted its stake in International Seaways by 41.4% in 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 period. NewEdge Advisors LLC grew its holdings in International Seaways by 416.1% in the 4th quarter. NewEdge Advisors LLC now owns 10,807 shares of the transportation company’s stock valued at $525,000 after buying an additional 8,713 shares in the last quarter. Finally, Garton & Associates Financial Advisors LLC acquired a new position in International Seaways in the 4th quarter valued at $46,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

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.