StockNews.com Begins Coverage on International Seaways (NYSE:INSW)

Investment analysts at StockNews.com began coverage on shares of International Seaways (NYSE:INSW – Get Rating) in a report released on Thursday. The brokerage set a “buy” rating on the transportation company’s stock.

Several other research firms also recently weighed in on INSW. Deutsche Bank Aktiengesellschaft upped their price target on shares of International Seaways from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, March 6th. B. Riley upped their price target on shares of International Seaways from $60.00 to $70.00 in a research report on Wednesday, March 1st. Finally, Jefferies Financial Group upped their price objective on shares of International Seaways from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, February 28th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $56.40.

International Seaways Stock Down 6.1 %

INSW stock opened at $41.77 on Thursday. International Seaways has a 52 week low of $16.33 and a 52 week high of $53.25. The company has a quick ratio of 2.49, a current ratio of 2.50 and a debt-to-equity ratio of 0.58. The firm has a 50-day simple moving average of $42.61 and a 200-day simple moving average of $39.79. The stock has a market capitalization of $2.05 billion, a P/E ratio of 5.36 and a beta of 0.04.

International Seaways (NYSE:INSW – Get Rating) last released its quarterly earnings results on Tuesday, February 28th. The transportation company reported $4.21 earnings per share for the quarter, topping the consensus estimate of $3.84 by $0.37. International Seaways had a net margin of 44.86% and a return on equity of 29.13%. The firm had revenue of $338.16 million during the quarter, compared to the consensus estimate of $311.42 million. Equities analysts forecast that International Seaways will post 8.38 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $39.10, for a total value of $39,100.00. Following the completion of the sale, the chief financial officer now owns 65,594 shares of the company’s stock, valued at approximately $2,564,725.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP Derek G. Solon sold 1,500 shares of the stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $49.36, for a total value of $74,040.00. Following the completion of the sale, the senior vice president now owns 30,648 shares of the company’s stock, valued at approximately $1,512,785.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $39.10, for a total transaction of $39,100.00. Following the completion of the sale, the chief financial officer now directly owns 65,594 shares of the company’s stock, valued at approximately $2,564,725.40. The disclosure for this sale can be found here. Insiders sold a total of 41,900 shares of company stock valued at $2,036,704 in the last 90 days. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On International Seaways

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of International Seaways by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 3,465,109 shares of the transportation company’s stock worth $62,511,000 after acquiring an additional 64,562 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of International Seaways by 1.3% in the 3rd quarter. BlackRock Inc. now owns 3,365,733 shares of the transportation company’s stock worth $118,238,000 after acquiring an additional 43,736 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of International Seaways by 7.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,462,234 shares of the transportation company’s stock worth $91,152,000 after acquiring an additional 170,456 shares during the last quarter. State Street Corp lifted its holdings in shares of International Seaways by 3.4% in the 2nd quarter. State Street Corp now owns 1,101,570 shares of the transportation company’s stock worth $23,353,000 after acquiring an additional 36,216 shares during the last quarter. Finally, Hosking Partners LLP lifted its holdings in shares of International Seaways by 95.3% in the 4th quarter. Hosking Partners LLP now owns 879,722 shares of the transportation company’s stock worth $32,567,000 after acquiring an additional 429,287 shares during the last quarter. 84.39% of the stock is currently owned by institutional investors and hedge funds.

International Seaways Company Profile

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International Seaways, Inc engages in the transportation of crude oil and petroleum products. It operates through the following segments: Crude Tankers and Product Carriers. The Crude Tankers segment consists of a fleet of vessels that transport unrefined petroleum. The Product Carriers segment focuses on crude and refined petroleum products.