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 research report issued on Saturday.

Several other research analysts have also recently weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $66.00 target price on shares of International Seaways in a research note on Thursday, February 29th. Stifel Nicolaus raised their target price on International Seaways from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, April 19th.

International Seaways Price Performance

Shares of INSW opened at $55.13 on Friday. The company has a market cap of $2.70 billion, a P/E ratio of 4.90 and a beta of -0.05. The stock has a fifty day moving average price of $52.74 and a 200 day moving average price of $49.68. 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 has a 12 month low of $34.77 and a 12 month high of $55.59.

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

Insider Buying and Selling at International Seaways

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $53.39, for a total value of $53,390.00. Following the sale, the chief financial officer now owns 69,010 shares of the company’s stock, valued at approximately $3,684,443.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $53.39, for a total transaction of $53,390.00. Following the completion of the transaction, the chief financial officer now owns 69,010 shares in the company, valued at approximately $3,684,443.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Douglas D. Wheat sold 3,846 shares of International Seaways stock in a transaction on 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 transaction, the director now 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. Insiders have sold 58,846 shares of company stock valued at $3,073,978 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On International Seaways

Several hedge funds and other institutional investors have recently made changes to their positions in INSW. SG Americas Securities LLC acquired a new stake in shares of International Seaways during the third quarter worth $224,000. Raymond James & Associates acquired a new stake in shares of International Seaways during the third quarter worth $274,000. Baker Ellis Asset Management LLC bought a new position in International Seaways during the third quarter worth about $220,000. Guyasuta Investment Advisors Inc. bought a new position in International Seaways during the third quarter worth about $310,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in International Seaways by 34.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,535 shares of the transportation company’s stock worth $294,000 after acquiring an additional 1,683 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

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.