International Seaways (NYSE:INSW) Raised to Strong-Buy at Zacks Research

International Seaways (NYSE:INSW) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday, Zacks reports.

Several other research analysts have also recently weighed in on INSW. BTIG Research upped their price objective on International Seaways from $100.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, September 18th. Jefferies Financial Group lifted their target price on International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. B. Riley Financial lifted their target price on International Seaways from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $107.00 target price on shares of International Seaways in a research note on Tuesday, September 1st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of International Seaways in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $109.80.

International Seaways Stock Performance

Shares of INSW opened at $121.35 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94. International Seaways has a twelve month low of $42.26 and a twelve month high of $121.82. The firm’s 50 day moving average price is $102.67 and its two-hundred day moving average price is $89.21. The firm has a market cap of $6.01 billion, a P/E ratio of 7.76, a PEG ratio of 0.28 and a beta of -0.14.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.36. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The company had revenue of $467.29 million during the quarter, compared to the consensus estimate of $406.38 million. During the same quarter in the prior year, the firm earned $1.02 earnings per share. The firm’s revenue was up 138.9% compared to the same quarter last year. On average, analysts forecast that International Seaways will post 17.08 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On International Seaways

Several hedge funds and other institutional investors have recently made changes to their positions in INSW. NewEdge Wealth LLC increased its stake in shares of International Seaways by 43.1% during the 1st quarter. NewEdge Wealth LLC now owns 24,942 shares of the transportation company’s stock worth $1,818,000 after purchasing an additional 7,511 shares during the last quarter. Baird Financial Group Inc. lifted its stake in International Seaways by 5.0% in the 2nd quarter. Baird Financial Group Inc. now owns 248,506 shares of the transportation company’s stock valued at $19,033,000 after purchasing an additional 11,835 shares during the last quarter. Man Group plc acquired a new stake in International Seaways in the 2nd quarter valued at about $867,000. Two Sigma Securities LLC bought a new position in International Seaways during the second quarter worth about $507,000. Finally, Energy Income Partners LLC bought a new position in International Seaways during the second quarter worth about $4,161,000. 67.29% of the stock is owned by institutional investors.

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.