Stifel Nicolaus Raises International Seaways (NYSE:INSW) Price Target to $64.00

International Seaways (NYSE:INSW) had its target price raised by Stifel Nicolaus from $63.00 to $64.00 in a report published on Friday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the transportation company’s stock.

Several other equities research analysts have also issued reports on INSW. Jefferies Financial Group restated a buy rating and issued a $66.00 target price on shares of International Seaways in a report on Thursday, February 29th. StockNews.com downgraded shares of International Seaways from a buy rating to a hold rating in a research note on Wednesday, April 17th.

International Seaways Trading Up 2.8 %

Shares of INSW stock opened at $53.03 on Friday. The company has a market cap of $2.59 billion, a PE ratio of 4.71 and a beta of -0.05. International Seaways has a 1 year low of $34.77 and a 1 year high of $55.59. The stock’s 50 day simple moving average is $52.64 and its two-hundred day simple moving average is $49.46. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.38 and a quick ratio of 2.37.

International Seaways (NYSE:INSW) last released its earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.10. The firm had revenue of $250.73 million for the quarter, compared to the consensus estimate of $239.36 million. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. Research analysts predict that International Seaways will post 9.42 earnings per share for the current year.

International Seaways Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 9.05%. The ex-dividend date of this dividend was Wednesday, March 13th. International Seaways’s payout ratio is presently 4.27%.

Insider Buying and Selling

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $53.39, for a total value of $53,390.00. Following the completion of the sale, the chief financial officer now directly owns 69,010 shares of the company’s stock, valued at approximately $3,684,443.90. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Douglas D. Wheat sold 3,846 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $51.22, for a total value of $196,992.12. Following the completion of the sale, the director now directly owns 26,056 shares of the company’s stock, valued at $1,334,588.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $53.39, for a total transaction of $53,390.00. Following the transaction, the chief financial officer now directly owns 69,010 shares in the company, valued at approximately $3,684,443.90. The disclosure for this sale can be found here. Insiders have sold 58,846 shares of company stock valued at $3,073,978 in the last 90 days. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On International Seaways

Several hedge funds have recently modified their holdings of the business. Federated Hermes Inc. purchased a new position in shares of International Seaways in the 3rd quarter valued at $28,000. Point72 Asset Management L.P. grew its stake in International Seaways by 55.2% in the second quarter. Point72 Asset Management L.P. now owns 1,015 shares of the transportation company’s stock valued at $39,000 after purchasing an additional 361 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new position in International Seaways in the fourth quarter worth about $46,000. Tower Research Capital LLC TRC raised its holdings in International Seaways by 279.0% in the third quarter. Tower Research Capital LLC TRC now owns 1,103 shares of the transportation company’s stock worth $50,000 after purchasing an additional 812 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of International Seaways by 29.8% in the 4th quarter. Wells Fargo & Company MN now owns 1,672 shares of the transportation company’s stock valued at $62,000 after buying an additional 384 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Company Profile

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.