International Seaways (NYSE:INSW) Reaches New 1-Year High - Here's Why

Key Points

• 52-week high: Shares of International Seaways reached a new 52-week high, trading as high as $79.07 (last at $78.56) with recent momentum above the 50‑day ($70.98) and 200‑day ($58.41) moving averages.
• Operational strength and analyst support: The company beat Q4 estimates (EPS $2.45 vs $1.75; revenue $267.9M vs $245.3M), reported 37.7% YoY revenue growth and strong margins, and several analysts raised targets to ~$80 while the consensus rating remains a "Buy" (avg. target $68).
• Insider selling and ownership mix: Insiders have sold shares recently (60,697 shares worth ~$4.52M over three months) while institutional investors hold ~67.3% of the stock, and insiders own about 2%.

Shares of International Seaways Inc. (NYSE:INSW - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $79.07 and last traded at $78.5610, with a volume of 46136 shares traded. The stock had previously closed at $77.46.

Wall Street Analyst Weigh In

Several analysts recently commented on INSW shares. Weiss Ratings cut shares of International Seaways from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft raised their price target on shares of International Seaways from $63.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, March 9th. BTIG Research lifted their target price on shares of International Seaways from $70.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. Wall Street Zen upgraded shares of International Seaways from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 13th. Finally, Pareto Securities upgraded shares of International Seaways from a "hold" rating to a "buy" rating and set a $64.00 target price for the company in a research note on Tuesday, January 20th. One 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, the stock presently has an average rating of "Buy" and an average target price of $68.00.

International Seaways Price Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 3.71 and a quick ratio of 3.71. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 12.43 and a beta of -0.23. The stock's 50 day simple moving average is $70.98 and its 200-day simple moving average is $58.41.

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

International Seaways Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Friday, March 20th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Friday, March 20th. International Seaways's payout ratio is presently 7.70%.

Insiders Place Their Bets

In other news, Director Alexandra Kate Blankenship sold 5,000 shares of the business's stock in a transaction on 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. The trade was a 32.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $74.57, for a total transaction of $149,140.00. Following the completion of the sale, the chief executive officer owned 206,745 shares of the company's stock, valued at $15,416,974.65. The trade was a 0.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 60,697 shares of company stock valued at $4,517,070 in the last three months. Company insiders own 2.00% of the company's stock.

Institutional Trading of International Seaways

A number of institutional investors and hedge funds have recently modified their holdings of the company. Louisiana State Employees Retirement System acquired a new stake in shares of International Seaways in the first quarter worth $1,312,000. Baker Ellis Asset Management LLC acquired a new stake in shares of International Seaways in the first quarter worth $292,000. Rockefeller Capital Management L.P. lifted its stake in shares of International Seaways by 583.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company's stock worth $47,000 after buying an additional 822 shares during the last quarter. Fearnley Asset Management AS acquired a new stake in shares of International Seaways in the fourth quarter worth $6,258,000. Finally, Invesco Ltd. raised its stake in International Seaways by 27.9% during the 4th quarter. Invesco Ltd. now owns 341,939 shares of the transportation company's stock valued at $16,601,000 after purchasing an additional 74,635 shares during the last quarter. 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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