International Seaways (NYSE:INSW) Downgraded by Zacks Research to Hold

Key Points

• Zacks Research downgraded International Seaways (INSW) from a "strong‑buy" to a "hold."
• Analysts are mixed but the consensus is a Moderate Buy—five Buy and two Hold ratings—with an average price target of $81 and individual targets up to $90.
• INSW reported strong quarterly results (EPS $2.45 vs. $1.75 est.; revenue $267.9M vs. $245.3M), has a $4.02B market cap and a 52‑week range of $33.50–$82.95.

International Seaways (NYSE:INSW - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Tuesday,Zacks.com reports.

A number of other brokerages have also recently weighed in on INSW. Deutsche Bank Aktiengesellschaft boosted their price target on International Seaways from $63.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, March 9th. Wall Street Zen raised International Seaways from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 13th. Weiss Ratings cut International Seaways from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, April 7th. Pareto Securities raised International Seaways from a "hold" rating to a "buy" rating and set a $64.00 price target for the company in a research report on Tuesday, January 20th. Finally, Jefferies Financial Group started coverage on International Seaways in a research report on Friday, April 24th. They issued a "buy" rating and a $90.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $81.00.

International Seaways Price Performance

Shares of NYSE:INSW opened at $81.21 on Tuesday. International Seaways has a fifty-two week low of $33.50 and a fifty-two week high of $82.95. The business has a 50-day moving average of $73.17 and a two-hundred day moving average of $59.98. The stock has a market capitalization of $4.02 billion, a P/E ratio of 13.03 and a beta of -0.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.71 and a quick ratio of 3.71.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The transportation company reported $2.45 earnings per share for the quarter, topping analysts' consensus estimates of $1.75 by $0.70. International Seaways had a return on equity of 13.92% and a net margin of 36.67%.The company had revenue of $267.88 million during the quarter, compared to analysts' expectations of $245.29 million. During the same quarter in the previous year, the firm earned $0.90 earnings per share. The business's quarterly revenue was up 37.7% compared to the same quarter last year. On average, equities research analysts predict that International Seaways will post 9.73 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Randee E. Day sold 4,090 shares of the firm's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $74.93, for a total value of $306,463.70. Following the sale, the director directly owned 18,435 shares of the company's stock, valued at approximately $1,381,334.55. This trade represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the firm's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $74.88, for a total value of $374,400.00. Following the completion of the sale, the director directly owned 10,213 shares in the company, valued at approximately $764,749.44. This represents a 32.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 60,697 shares of company stock valued at $4,517,070 in the last quarter. Insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On International Seaways

Several hedge funds have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund lifted its stake in shares of International Seaways by 2.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company's stock valued at $452,000 after buying an additional 200 shares during the period. Arizona State Retirement System lifted its stake in shares of International Seaways by 1.7% in the third quarter. Arizona State Retirement System now owns 12,409 shares of the transportation company's stock valued at $572,000 after buying an additional 206 shares during the period. ProShare Advisors LLC lifted its stake in shares of International Seaways by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company's stock valued at $380,000 after buying an additional 241 shares during the period. Evergreen Capital Management LLC lifted its stake in shares of International Seaways by 2.9% in the third quarter. Evergreen Capital Management LLC now owns 9,832 shares of the transportation company's stock valued at $453,000 after buying an additional 274 shares during the period. Finally, Guggenheim Capital LLC lifted its stake in shares of International Seaways by 1.4% in the fourth quarter. Guggenheim Capital LLC now owns 19,760 shares of the transportation company's stock valued at $959,000 after buying an additional 275 shares during the period. Institutional investors own 67.29% of the company's stock.

About International Seaways

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.