International Seaways (NYSE:INSW) Raised to "Strong-Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded International Seaways (INSW) from a "buy" to a "strong‑buy"; analyst sentiment overall is bullish (1 Strong Buy, 5 Buy, 1 Hold) with an average price target of $68 and several firms (BTIG, Deutsche Bank) raising targets toward $80.
• INSW reported a strong quarter—EPS $2.45 vs. $1.75 est. and revenue of $267.9M (up 37.7% YoY) with a 36.7% net margin—while the stock trades around $74, has a market cap of $3.66B and a P/E of ~11.9.

International Seaways (NYSE:INSW - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued on Monday.

INSW has been the topic of a number of other reports. BTIG Research upped their target price on shares of International Seaways from $70.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, February 26th. Zacks Research raised shares of International Seaways from a "hold" rating to a "strong-buy" rating in a report on Monday, March 2nd. Weiss Ratings cut shares of International Seaways from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, April 7th. Pareto Securities raised shares of International Seaways from a "hold" rating to a "buy" rating and set a $64.00 target price on the stock in a report on Tuesday, January 20th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of International Seaways from $63.00 to $80.00 and gave the company a "buy" rating in a report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $68.00.

International Seaways Price Performance

INSW opened at $74.01 on Monday. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.27. International Seaways has a 12 month low of $31.01 and a 12 month high of $78.51. The company has a fifty day simple moving average of $69.16 and a 200 day simple moving average of $57.20. The stock has a market cap of $3.66 billion, a P/E ratio of 11.88 and a beta of -0.23.

International Seaways (NYSE:INSW - Get Free Report) last announced its 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 net margin of 36.67% and a return on equity of 13.92%. The firm had revenue of $267.88 million during the quarter, compared to analyst estimates of $245.29 million. During the same period in the prior year, the business earned $0.90 EPS. The company's revenue for the quarter was up 37.7% compared to the same quarter last year. On average, research analysts expect that International Seaways will post 7.77 EPS for the current year.

Insider Activity

In other International Seaways news, Director Alexandra Kate Blankenship sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $74.88, for a total transaction of $374,400.00. Following the completion of the sale, the director directly owned 10,213 shares in the company, valued at $764,749.44. This trade represents a 32.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Randee E. Day sold 4,090 shares of the firm's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $74.93, for a total transaction of $306,463.70. Following the sale, the director owned 18,435 shares of the company's stock, valued at $1,381,334.55. This trade represents a 18.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 60,697 shares of company stock valued at $4,459,450. Company insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On International Seaways

Several hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. lifted its position in International Seaways by 583.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company's stock worth $47,000 after acquiring an additional 822 shares during the last quarter. Fearnley Asset Management AS bought a new position in shares of International Seaways during the fourth quarter worth approximately $6,258,000. Invesco Ltd. increased its holdings in shares of International Seaways by 27.9% during the fourth quarter. Invesco Ltd. now owns 341,939 shares of the transportation company's stock worth $16,601,000 after purchasing an additional 74,635 shares during the period. Mackenzie Financial Corp increased its holdings in shares of International Seaways by 41.4% during the fourth quarter. Mackenzie Financial Corp now owns 19,760 shares of the transportation company's stock worth $954,000 after purchasing an additional 5,783 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in shares of International Seaways by 416.1% during the fourth quarter. NewEdge Advisors LLC now owns 10,807 shares of the transportation company's stock worth $525,000 after purchasing an additional 8,713 shares during the period. 67.29% of the stock is currently owned by institutional investors and hedge funds.

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.

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