International Seaways Inc. (NYSE:INSW) Stock Has Average Price Target of $109.80 According to Analysts

Shares of International Seaways Inc. (NYSE:INSW) have received a consensus rating of “Buy” from the eight ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $109.80.

Several analysts recently weighed in on the stock. Jefferies Financial Group lifted their target price on shares of International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, August 13th. BTIG Research upped their price target on International Seaways from $100.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, September 18th. Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. B. Riley Financial lifted their price objective on International Seaways from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Monday. Finally, Weiss Ratings upgraded International Seaways from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday.

Insiders Place Their Bets

In other International Seaways news, CEO Lois Zabrocky sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $108.01, for a total transaction of $216,020.00. Following the sale, the chief executive officer directly owned 171,745 shares in the company, valued at $18,550,177.45. This represents a 1.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP acquired a new position in shares of International Seaways during the second quarter worth about $28,000. Allworth Financial LP acquired a new stake in International Seaways in the second quarter valued at approximately $48,000. Public Employees Retirement System of Ohio acquired a new stake in International Seaways in the second quarter valued at approximately $66,000. Compass Financial Management LLC purchased a new position in International Seaways in the second quarter worth approximately $86,000. Finally, Rockefeller Capital Management L.P. lifted its stake in International Seaways by 583.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after acquiring an additional 822 shares during the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Trading Down 1.5%

Shares of INSW stock opened at $119.95 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.94 and a quick ratio of 5.76. The firm has a market cap of $5.94 billion, a PE ratio of 7.67, a price-to-earnings-growth ratio of 0.30 and a beta of -0.14. The company has a 50-day moving average of $103.15 and a two-hundred day moving average of $89.42. International Seaways has a 1-year low of $42.26 and a 1-year high of $122.75.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, beating analysts’ consensus estimates of $5.55 by $0.36. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The business had revenue of $467.29 million during the quarter, compared to analysts’ expectations of $406.38 million. During the same period last year, the business earned $1.02 earnings per share. The business’s revenue for the quarter was up 138.9% on a year-over-year basis. On average, analysts predict that International Seaways will post 17.08 EPS for the current year.

International Seaways Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were given a $5.05 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $20.20 annualized dividend and a yield of 16.8%. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio is presently 129.16%.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is a maritime transportation company that owns and operates oceangoing tankers. The company transports crude oil, refined petroleum products and other liquid cargoes for energy producers, commodity traders, refiners and other customers worldwide.

Its fleet includes crude-oil tankers serving major international trade routes, as well as product tankers used to move gasoline, diesel, jet fuel and other refined petroleum products. International Seaways employs a combination of time-charter, voyage-charter and pool arrangements to market its vessels and provide transportation services.

International Seaways was established in 2016 through the separation of the international tanker business from Overseas Shipholding Group.