StockNews.com Downgrades International Seaways (NYSE:INSW) to Hold

International Seaways (NYSE:INSW) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Separately, Jefferies Financial Group reaffirmed a “buy” rating and set a $66.00 price target on shares of International Seaways in a research report on Thursday, February 29th.

International Seaways Stock Performance

Shares of INSW opened at $51.59 on Wednesday. The stock has a 50-day moving average of $52.61 and a two-hundred day moving average of $49.29. International Seaways has a one year low of $34.77 and a one year high of $55.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.37 and a current ratio of 2.38. The stock has a market cap of $2.52 billion, a P/E ratio of 4.59 and a beta of -0.05.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, February 29th. The transportation company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates 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. As a group, research analysts predict that International Seaways will post 9.27 EPS for the current year.

Insider Activity

In other news, CEO Lois K. Zabrocky sold 13,760 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $52.87, for a total value of $727,491.20. Following the completion of the transaction, the chief executive officer now owns 148,942 shares of the company’s stock, valued at approximately $7,874,563.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Alexandra Kate Blankenship sold 6,000 shares of International Seaways stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $53.09, for a total value of $318,540.00. Following the completion of the transaction, the director now owns 19,098 shares in the company, valued at approximately $1,013,912.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Lois K. Zabrocky sold 13,760 shares of International Seaways stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $52.87, for a total value of $727,491.20. Following the completion of the transaction, the chief executive officer now owns 148,942 shares of the company’s stock, valued at approximately $7,874,563.54. The disclosure for this sale can be found here. Insiders sold a total of 58,846 shares of company stock valued at $3,073,978 in the last quarter. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On International Seaways

Several institutional investors and hedge funds have recently modified their holdings of INSW. Millennium Management LLC purchased a new position in shares of International Seaways in the 2nd quarter valued at about $17,047,000. Two Sigma Advisers LP increased its stake in International Seaways by 2,140.5% during the 4th quarter. Two Sigma Advisers LP now owns 485,049 shares of the transportation company’s stock worth $17,957,000 after buying an additional 463,400 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in International Seaways during the 4th quarter worth approximately $13,907,000. Frontier Capital Management Co. LLC purchased a new stake in International Seaways during the 1st quarter worth approximately $13,924,000. Finally, Donald Smith & CO. Inc. boosted its holdings in shares of International Seaways by 24.6% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,613,803 shares of the transportation company’s stock worth $73,396,000 after purchasing an additional 318,962 shares during 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.