Weiss Ratings Reaffirms Hold (C+) Rating for International Seaways (NYSE:INSW)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C+)" rating for International Seaways while BTIG Research lowered its price target from $70.00 to $60.00 but still maintains a "Buy" rating.
• International Seaways reported $1.02 EPS for the last quarter, beating expectations but facing a 24% year-over-year revenue decline.
• Institutional ownership stands at 67.29%, with significant increases in stakes from several investors during the first quarter.

International Seaways (NYSE:INSW - Get Free Report)'s stock had its "hold (c+)" rating reissued by investment analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Separately, BTIG Research reduced their price target on International Seaways from $70.00 to $60.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $53.50.

International Seaways Trading Down 0.6%

Shares of NYSE INSW opened at $44.10 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $45.11 and a two-hundred day simple moving average of $39.46. The firm has a market cap of $2.18 billion, a PE ratio of 9.17 and a beta of 0.01. International Seaways has a twelve month low of $27.20 and a twelve month high of $52.66.

International Seaways (NYSE:INSW - Get Free Report) last issued its earnings results on Wednesday, August 6th. The transportation company reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.11. The business had revenue of $188.82 million during the quarter, compared to analyst estimates of $199.06 million. International Seaways had a return on equity of 11.35% and a net margin of 29.88%.International Seaways's revenue was down 24.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.37 EPS. Analysts expect that International Seaways will post 7.77 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Jeffrey Pribor sold 1,000 shares of the business's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $48.27, for a total transaction of $48,270.00. Following the transaction, the chief financial officer directly owned 63,502 shares in the company, valued at $3,065,241.54. The trade was a 1.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP William F. Nugent sold 1,000 shares of the business's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $40.21, for a total value of $40,210.00. Following the transaction, the senior vice president owned 58,752 shares in the company, valued at approximately $2,362,417.92. This trade represents a 1.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock worth $799,770 over the last quarter. Company insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in International Seaways by 105.1% during the 1st quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock valued at $39,000 after purchasing an additional 596 shares during the last quarter. New York State Teachers Retirement System grew its stake in International Seaways by 139.9% during the 1st quarter. New York State Teachers Retirement System now owns 20,794 shares of the transportation company's stock valued at $690,000 after purchasing an additional 12,128 shares during the last quarter. KBC Group NV grew its stake in International Seaways by 61.2% during the 1st quarter. KBC Group NV now owns 2,800 shares of the transportation company's stock valued at $93,000 after purchasing an additional 1,063 shares during the last quarter. Blue Trust Inc. grew its stake in International Seaways by 87.3% during the 1st quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company's stock valued at $53,000 after purchasing an additional 738 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in International Seaways by 3.9% during the 1st quarter. Arizona State Retirement System now owns 11,993 shares of the transportation company's stock valued at $398,000 after purchasing an additional 455 shares during the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

About International Seaways

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.

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