International Seaways (NYSE:INSW) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded International Seaways to “strong buy” from “buy.” Other firms have also raised ratings or price targets; the analyst consensus is “Buy” with a $109.80 price target.
• The company reported quarterly EPS of $5.84, below the $6.13 consensus estimate, while revenue of $483.2 million topped forecasts and rose 146% year over year.
• Insiders sold 655,028 shares worth about $76.4 million over the past 90 days; insiders own 1.7% of the company.

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

Several other research firms have also commented on INSW. Weiss Ratings upgraded International Seaways from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Zacks Research raised International Seaways from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 7th. Jefferies Financial Group lifted their price target 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 increased their price target on shares of International Seaways from $120.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, October 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $107.00 price objective on shares of International Seaways in a research report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, International Seaways has an average rating of "Buy" and a consensus price target of $109.80.

International Seaways Stock Performance

Shares of International Seaways stock opened at $98.15 on Friday. 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 stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 4.65, a price-to-earnings-growth ratio of 0.28 and a beta of -0.10. International Seaways has a 12 month low of $46.09 and a 12 month high of $126.27. The business has a 50-day moving average of $108.69 and a 200 day moving average of $86.58.

International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The transportation company reported $5.84 earnings per share for the quarter, missing analysts' consensus estimates of $6.13 by ($0.29). International Seaways had a return on equity of 31.75% and a net margin of 61.98%. The company had revenue of $483.20 million during the quarter, compared to analyst estimates of $349.50 million. During the same period in the prior year, the company posted $1.15 earnings per share. The company's revenue was up 146.0% on a year-over-year basis. As a group, sell-side analysts forecast that International Seaways will post 17.47 earnings per share for the current year.

Insider Transactions at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $114.23, for a total transaction of $228,460.00. Following the transaction, the chief executive officer directly owned 169,745 shares of the company's stock, valued at approximately $19,389,971.35. The trade was a 1.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Finance Ltd Famatown sold 64,821 shares of the company's stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $125.05, for a total value of $8,105,866.05. Following the transaction, the insider directly owned 6,500,566 shares in the company, valued at approximately $812,895,778.30. The trade was a 0.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 655,028 shares of company stock valued at $76,362,341 over the last ninety days. Insiders own 1.70% 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 INSW. BlackRock Inc. acquired a new stake in International Seaways in the 2nd quarter valued at about $505,153,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of International Seaways by 167.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company's stock worth $44,330,000 after buying an additional 380,931 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in International Seaways in the second quarter worth $21,082,000. Empowered Funds LLC bought a new position in shares of International Seaways during the 2nd quarter valued at about $19,711,000. Finally, Bank of America Corp DE purchased a new stake in shares of International Seaways during the second quarter worth about $11,833,000. Institutional investors and hedge funds own 67.29% of the company's stock.

About International Seaways

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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