International Seaways (NYSE:INSW) Stock Price Expected to Rise, BTIG Research Analyst Says

Key Points

• BTIG Research raised International Seaways’ price target to $130 from $100 and maintained a “buy” rating, implying 17.64% upside from the prior close.
• Analyst sentiment remains favorable, with five Buy ratings and two Holds giving the stock a consensus “Moderate Buy” rating and an average target of $102.25.
• International Seaways reported strong quarterly results, beating EPS and revenue estimates while revenue surged 138.9% year over year; shares opened at $110.50 and were up 1%.

International Seaways (NYSE:INSW - Get Free Report) had its price objective upped by analysts at BTIG Research from $100.00 to $130.00 in a research report issued on Friday, Benzinga reports. The firm presently has a "buy" rating on the transportation company's stock. BTIG Research's target price points to a potential upside of 17.64% from the stock's previous close.

Other research analysts have also recently issued research reports about 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 research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $107.00 price target on shares of International Seaways in a report on Tuesday, September 1st. Zacks Research downgraded International Seaways from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 24th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of International Seaways in a research note on Friday, August 7th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, International Seaways has a consensus rating of "Moderate Buy" and an average price target of $102.25.

International Seaways Trading Up 1.0%

Shares of International Seaways stock opened at $110.50 on Friday. The stock has a market capitalization of $5.47 billion, a P/E ratio of 7.07, a price-to-earnings-growth ratio of 0.28 and a beta of -0.13. The company has a quick ratio of 5.76, a current ratio of 5.94 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $96.38 and a 200 day simple moving average of $85.01. International Seaways has a 12-month low of $42.26 and a 12-month high of $113.13.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.55 by $0.36. The firm had revenue of $467.29 million during the quarter, compared to the consensus estimate of $406.38 million. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The firm's quarterly revenue was up 138.9% on a year-over-year basis. During the same period last year, the firm posted $1.02 EPS. Research analysts expect that International Seaways will post 16.09 earnings per share for the current fiscal year.

Insider Activity at International Seaways

In other news, CEO Lois Zabrocky sold 2,000 shares of the business's stock in a transaction 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 completion of the sale, the chief executive officer owned 171,745 shares in the company, valued at $18,550,177.45. The trade was a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On International Seaways

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of International Seaways in the 2nd quarter valued at about $505,153,000. Dimensional Fund Advisors LP boosted its stake in International Seaways by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,024,755 shares of the transportation company's stock worth $220,436,000 after acquiring an additional 52,743 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in International Seaways by 167.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company's stock valued at $44,330,000 after purchasing an additional 380,931 shares during the period. Bridgeway Capital Management LLC grew its holdings in International Seaways by 7.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 414,688 shares of the transportation company's stock valued at $20,133,000 after purchasing an additional 27,818 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in International Seaways in the second quarter valued at approximately $21,082,000. Institutional investors own 67.29% of the company's stock.

About International Seaways

International Seaways, Inc is a maritime transportation company that owns and operates oceangoing vessels used to transport crude oil, refined petroleum products and other liquid bulk cargoes. Its fleet includes crude oil tankers and product carriers serving energy companies, commodity traders and other customers in international shipping markets.

The company's vessels operate on routes connecting major oil-producing, refining and consuming regions around the world. International Seaways generates revenue through a combination of time-charter arrangements, voyage charters and other commercial agreements, allowing customers to use its ships for the global movement of energy products.

International Seaways became an independent public company in 2016 through a separation from Overseas Shipholding Group.

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