International Seaways (NYSE:INSW) Sets New 12-Month High - Still a Buy?

Key Points

• International Seaways (INSW) reached a new 52-week high of $81.00 (last ~$79.76), and analyst sentiment has turned more bullish with an average MarketBeat rating of Buy and several target increases (Jefferies and BTIG at $90).
• The company posted a strong quarter—$2.45 EPS vs. $1.75 estimate and $267.9M revenue (+37.7% YoY)—with a 36.7% net margin, healthy liquidity (quick/current ratio 3.71) and low leverage (debt/equity 0.27).
• Notable insider selling occurred (60,697 shares, about $4.52M over three months) even as institutional investors own roughly 67.3% of the stock.

International Seaways Inc. (NYSE:INSW - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $81.00 and last traded at $79.7640, with a volume of 1061 shares changing hands. The stock had previously closed at $79.55.

Analyst Ratings Changes

INSW has been the topic of several recent analyst reports. Zacks Research raised International Seaways from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 2nd. Wall Street Zen raised International Seaways from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 13th. Jefferies Financial Group initiated coverage on International Seaways in a research report on Friday. They issued a "buy" rating and a $90.00 target price on the stock. BTIG Research raised their target price on International Seaways from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Finally, Pareto Securities raised International Seaways from a "hold" rating to a "buy" rating and set a $64.00 target price on the stock in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, International Seaways has an average rating of "Buy" and an average price target of $81.00.

International Seaways Price Performance

The firm has a 50 day moving average price of $72.16 and a 200 day moving average price of $59.31. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.27. The stock has a market cap of $3.92 billion, a P/E ratio of 12.68 and a beta of -0.23.

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

International Seaways Dividend Announcement

The business 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. The ex-dividend date of this dividend was Friday, March 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. International Seaways's dividend payout ratio (DPR) is 7.70%.

Insider Transactions at International Seaways

In other news, Director Alexandra Kate Blankenship sold 5,000 shares of the firm's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $74.88, for a total value of $374,400.00. Following the transaction, the director owned 10,213 shares of the company's stock, valued at $764,749.44. This trade represents a 32.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the transaction, the director directly owned 18,435 shares in the company, valued at $1,381,334.55. This trade represents a 18.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 60,697 shares of company stock valued at $4,517,070. Company insiders own 2.00% of the company's stock.

Institutional Trading of International Seaways

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Horizon Corp raised its stake in International Seaways by 121.6% during the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company's stock valued at $33,000 after purchasing an additional 377 shares during the period. Federated Hermes Inc. raised its stake in International Seaways by 99.5% during the 3rd quarter. Federated Hermes Inc. now owns 758 shares of the transportation company's stock valued at $35,000 after purchasing an additional 378 shares during the period. Leonteq Securities AG bought a new stake in International Seaways during the 4th quarter valued at approximately $44,000. Garton & Associates Financial Advisors LLC bought a new stake in International Seaways during the 4th quarter valued at approximately $46,000. Finally, Rockefeller Capital Management L.P. raised its stake in International Seaways by 583.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company's stock valued at $47,000 after purchasing an additional 822 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.

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