International Seaways (NYSE:INSW) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded International Seaways from “strong buy” to “buy,” while the broader analyst consensus remains “Buy” with an average price target of $109.80.
• International Seaways reported strong quarterly results, posting $5.91 in EPS and $467.29 million in revenue, beating estimates and representing 138.9% year-over-year revenue growth.
• INSW shares opened at $110.93, near the upper end of their 52-week range, while insiders sold approximately $51.4 million of stock over the past 90 days; institutional investors own 67.29% of the company.

International Seaways (NYSE:INSW - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other equities analysts have also recently weighed in on the company. Zacks Research upgraded International Seaways from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 7th. Weiss Ratings upgraded shares of International Seaways from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. B. Riley Financial lifted their target price on International Seaways from $120.00 to $140.00 and gave the stock a "buy" rating in a research report on Monday, October 5th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $107.00 price target on shares of International Seaways in a research note on Tuesday, September 1st. Finally, Jefferies Financial Group upped their price objective on International Seaways from $100.00 to $108.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, International Seaways currently has an average rating of "Buy" and a consensus target price of $109.80.

International Seaways Price Performance

Shares of NYSE INSW opened at $110.93 on Friday. International Seaways has a 1-year low of $46.09 and a 1-year high of $126.27. The business has a 50-day moving average of $107.22 and a 200-day moving average of $92.29. 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 company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 7.09, a PEG ratio of 0.29 and a beta of -0.14.

International Seaways (NYSE:INSW - Get Free Report) last posted its earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.55 by $0.36. The business had revenue of $467.29 million during the quarter, compared to analyst estimates of $406.38 million. International Seaways had a return on equity of 31.75% and a net margin of 61.98%. The company's revenue for the quarter was up 138.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.02 earnings per share. On average, equities analysts anticipate that International Seaways will post 17.47 EPS for the current fiscal year.

Insider Activity

In related news, CEO Lois Zabrocky sold 2,000 shares of the company's stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $114.23, for a total value of $228,460.00. Following the completion of the sale, the chief executive officer owned 169,745 shares of the company's stock, valued at $19,389,971.35. This represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Finance Ltd Famatown sold 61,216 shares of the stock in a transaction dated Wednesday, October 7th. The shares were sold at an average price of $117.08, for a total transaction of $7,167,169.28. Following the completion of the transaction, the insider owned 6,704,504 shares of the company's stock, valued at $784,963,328.32. This represents a 0.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 451,290 shares of company stock valued at $51,351,266 in the last ninety days. Corporate insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

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

International Seaways Company Profile

International Seaways, Inc NYSE: INSW is a maritime transportation company that owns and operates oceangoing tankers. Its vessels transport crude oil, refined petroleum products and other energy-related cargoes for oil companies, commodity traders, refiners and other customers in international markets.

The company's fleet includes large crude carriers and product tankers serving a range of transportation needs. International Seaways operates vessels on the global waterborne energy transportation network, with routes connecting major oil-producing regions, refining centers and consuming markets.

International Seaways was established as an independent public company in 2016 following its spin-off from Overseas Shipholding Group.

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