International Seaways (NYSE:INSW) PT Raised to $64.00 at Stifel Nicolaus

International Seaways (NYSE:INSW - Get Free Report) had its price target increased by stock analysts at Stifel Nicolaus from $63.00 to $64.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the transportation company's stock. Stifel Nicolaus' target price indicates a potential upside of 20.69% from the company's previous close.

A number of other analysts have also issued reports on the company. StockNews.com lowered International Seaways from a "buy" rating to a "hold" rating in a report on Wednesday. Jefferies Financial Group reissued a "buy" rating and issued a $66.00 price objective on shares of International Seaways in a research note on Thursday, February 29th.

International Seaways Trading Up 2.8 %

NYSE INSW traded up $1.42 on Friday, hitting $53.03. 508,163 shares of the company were exchanged, compared to its average volume of 529,236. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.38 and a quick ratio of 2.37. International Seaways has a twelve month low of $34.77 and a twelve month high of $55.59. The firm has a market capitalization of $2.59 billion, a P/E ratio of 4.71 and a beta of -0.05. The company's 50 day moving average price is $52.64 and its 200-day moving average price is $49.36.

International Seaways (NYSE:INSW - Get Free Report) last released its quarterly earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.10. The business had revenue of $250.73 million for the quarter, compared to analyst estimates of $239.36 million. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. Analysts predict that International Seaways will post 9.27 earnings per share for the current fiscal year.

Insider Activity

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the business's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $53.39, for a total value of $53,390.00. Following the transaction, the chief financial officer now owns 69,010 shares in the company, valued at $3,684,443.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Lois K. Zabrocky sold 13,760 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $52.87, for a total transaction of $727,491.20. Following the transaction, the chief executive officer now owns 148,942 shares in the company, valued at approximately $7,874,563.54. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction on Monday, April 1st. The shares were sold at an average price of $53.39, for a total transaction of $53,390.00. Following the completion of the sale, the chief financial officer now directly owns 69,010 shares of the company's stock, valued at approximately $3,684,443.90. The disclosure for this sale can be found here. Insiders have sold a total of 58,846 shares of company stock worth $3,073,978 in the last ninety days. Corporate insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On International Seaways

Several hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. acquired a new position in shares of International Seaways during the 3rd quarter valued at about $28,000. Point72 Asset Management L.P. boosted its position in International Seaways by 55.2% during the second quarter. Point72 Asset Management L.P. now owns 1,015 shares of the transportation company's stock worth $39,000 after purchasing an additional 361 shares during the period. Tower Research Capital LLC TRC grew its holdings in International Seaways by 279.0% during the third quarter. Tower Research Capital LLC TRC now owns 1,103 shares of the transportation company's stock valued at $50,000 after purchasing an additional 812 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new position in shares of International Seaways in the fourth quarter valued at approximately $46,000. Finally, Wells Fargo & Company MN lifted its stake in shares of International Seaways by 29.8% in the fourth quarter. Wells Fargo & Company MN now owns 1,672 shares of the transportation company's stock worth $62,000 after buying an additional 384 shares during the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

International Seaways Company Profile

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.