International Seaways (NYSE:INSW) Downgraded to Hold at StockNews.com

International Seaways (NYSE:INSW) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Separately, Jefferies Financial Group reaffirmed a “buy” rating and set a $66.00 target price on shares of International Seaways in a report on Thursday, February 29th.

International Seaways Price Performance

INSW opened at $51.59 on Wednesday. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.35. The business has a fifty day moving average of $52.61 and a 200 day moving average of $49.29. The stock has a market cap of $2.52 billion, a P/E ratio of 4.59 and a beta of -0.05. International Seaways has a 52-week low of $34.77 and a 52-week high of $55.59.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.10. The business had revenue of $250.73 million for the quarter, compared to analyst estimates of $239.36 million. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. As a group, sell-side analysts anticipate that International Seaways will post 9.27 EPS for the current year.

Insider Buying and Selling at International Seaways

In other news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $53.09, for a total value of $53,090.00. Following the transaction, the chief financial officer now owns 82,161 shares in the company, valued at $4,361,927.49. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $53.09, for a total transaction of $53,090.00. Following the transaction, the chief financial officer now owns 82,161 shares in the company, valued at $4,361,927.49. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Douglas D. Wheat sold 3,846 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $51.22, for a total value of $196,992.12. Following the sale, the director now directly owns 26,056 shares of the company’s stock, valued at approximately $1,334,588.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,846 shares of company stock valued at $3,073,978. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Federated Hermes Inc. purchased a new stake in International Seaways during the 3rd quarter worth about $28,000. Point72 Asset Management L.P. lifted its holdings in International Seaways by 55.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,015 shares of the transportation company’s stock worth $39,000 after buying an additional 361 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in International Seaways by 279.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,103 shares of the transportation company’s stock worth $50,000 after buying an additional 812 shares during the last quarter. Coppell Advisory Solutions Corp. purchased a new stake in International Seaways during the 4th quarter worth about $46,000. Finally, Wells Fargo & Company MN increased its position in International Seaways by 29.8% during the 4th quarter. Wells Fargo & Company MN now owns 1,672 shares of the transportation company’s stock worth $62,000 after purchasing an additional 384 shares during the period. 67.29% of the stock is owned by institutional investors and hedge funds.

About International Seaways

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.