International Seaways Inc. (NYSE:INSW) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• International Seaways has a consensus analyst rating of “Moderate Buy”, with five buy ratings and two hold ratings. The average price target across covering brokerages is $86.
• The company recently posted strong quarterly results, reporting EPS of $3.90 versus estimates of $2.87 and revenue of $325.48 million versus expectations of $279.34 million. Revenue rose 77.5% year over year.
• Insider selling was notable, including sales by SVP Derek G. Solon and CFO Jeffrey Pribor, with insiders selling 42,530 shares worth about $3.7 million over the last quarter. Despite that, institutional investors still hold 67.29% of the stock.

International Seaways Inc. (NYSE:INSW - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the seven ratings firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $86.00.

INSW has been the subject of a number of recent research reports. BTIG Research boosted their target price on shares of International Seaways from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. Jefferies Financial Group reaffirmed a "buy" rating and set a $100.00 price target on shares of International Seaways in a research report on Friday, May 8th. Weiss Ratings upgraded shares of International Seaways from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. Zacks Research downgraded shares of International Seaways from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 25th. Finally, Wall Street Zen upgraded shares of International Seaways from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 13th.

Insider Buying and Selling

In other International Seaways news, SVP Derek G. Solon sold 4,700 shares of International Seaways stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $89.22, for a total value of $419,334.00. Following the completion of the transaction, the senior vice president directly owned 49,719 shares of the company's stock, valued at $4,435,929.18. The trade was a 8.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $81.68, for a total value of $81,680.00. Following the sale, the chief financial officer directly owned 101,984 shares in the company, valued at approximately $8,330,053.12. This trade represents a 0.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 42,530 shares of company stock worth $3,699,995 in the last quarter. Insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On International Seaways

A number of large investors have recently bought and sold shares of INSW. First Horizon Corp raised its position in shares of International Seaways by 121.6% in the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company's stock valued at $33,000 after buying an additional 377 shares in the last quarter. Leonteq Securities AG acquired a new stake in shares of International Seaways during the 4th quarter worth approximately $44,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of International Seaways during the 4th quarter worth approximately $46,000. Rockefeller Capital Management L.P. increased its stake in International Seaways by 583.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company's stock valued at $47,000 after acquiring an additional 822 shares during the last quarter. Finally, Founders Capital Management increased its stake in International Seaways by 37.5% in the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company's stock valued at $53,000 after acquiring an additional 300 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

International Seaways Stock Performance

NYSE:INSW opened at $91.48 on Friday. The stock has a market cap of $4.53 billion, a P/E ratio of 8.33 and a beta of -0.12. The stock has a 50 day simple moving average of $83.60 and a 200 day simple moving average of $74.25. The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26. International Seaways has a 1-year low of $39.06 and a 1-year high of $92.66.

International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, beating analysts' consensus estimates of $2.87 by $1.03. The firm had revenue of $325.48 million for the quarter, compared to analyst estimates of $279.34 million. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The company's revenue for the quarter was up 77.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 EPS. Research analysts anticipate that International Seaways will post 15.62 earnings per share for the current year.

International Seaways Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, June 12th. International Seaways's payout ratio is 4.37%.

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.

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