International Seaways (NYSE:INSW) Reaches New 52-Week High – Still a Buy?

Shares of International Seaways Inc. (NYSE:INSW) reached a new 52-week high during trading on Monday . The company traded as high as $86.00 and last traded at $84.47, with a volume of 1263 shares trading hands. The stock had previously closed at $85.14.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Weiss Ratings downgraded International Seaways from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, April 7th. Jefferies Financial Group assumed coverage on International Seaways in a research note on Friday, April 24th. They issued a “buy” rating and a $90.00 price target for the company. Deutsche Bank Aktiengesellschaft boosted their price target on International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Pareto Securities raised International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Tuesday, January 20th. Finally, BTIG Research boosted their target price on International Seaways from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, International Seaways currently has an average rating of “Moderate Buy” and an average price target of $81.00.

International Seaways Stock Performance

The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.27. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 14.13 and a beta of -0.09. The company has a 50 day simple moving average of $73.91 and a 200 day simple moving average of $60.68.

International Seaways (NYSE:INSW) last issued its earnings results on Thursday, February 26th. The transportation company reported $2.45 EPS for the quarter, topping the consensus estimate of $1.75 by $0.70. The firm had revenue of $267.88 million during the quarter, compared to the consensus estimate of $245.29 million. International Seaways had a return on equity of 13.92% and a net margin of 36.67%.The business’s quarterly revenue was up 37.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 earnings per share. As a group, equities research analysts forecast that International Seaways Inc. will post 9.73 EPS for the current year.

International Seaways Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Friday, March 20th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, March 20th. International Seaways’s payout ratio is 7.70%.

Insider Activity at International Seaways

In other news, Director Randee E. Day sold 4,090 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $74.93, for a total transaction of $306,463.70. Following the sale, the director directly owned 18,435 shares in the company, valued at approximately $1,381,334.55. The trade was a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Treasurer Debra Grillo sold 389 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $76.27, for a total value of $29,669.03. Following the sale, the treasurer owned 1,185 shares in the company, valued at approximately $90,379.95. This trade represents a 24.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 60,697 shares of company stock valued at $4,517,070. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of International Seaways

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Amundi bought a new stake in International Seaways in the fourth quarter valued at approximately $13,663,000. Acorn Financial Advisory Services Inc. ADV bought a new stake in International Seaways in the first quarter valued at approximately $13,145,000. Tudor Investment Corp ET AL bought a new stake in International Seaways in the fourth quarter valued at approximately $7,087,000. American Century Companies Inc. boosted its holdings in International Seaways by 7.5% in the third quarter. American Century Companies Inc. now owns 1,994,978 shares of the transportation company’s stock valued at $91,929,000 after acquiring an additional 139,868 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its holdings in International Seaways by 105.2% in the second quarter. Frontier Capital Management Co. LLC now owns 270,386 shares of the transportation company’s stock valued at $9,864,000 after acquiring an additional 138,625 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.