International Seaways (NYSE:INSW) Sets New 52-Week High – Here’s Why

International Seaways Inc. (NYSE:INSW)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $70.00 and last traded at $66.7550, with a volume of 882 shares. The stock had previously closed at $67.47.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Wall Street Zen downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Pareto Securities raised International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Tuesday, January 20th. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a research note on Thursday, January 22nd. BTIG Research upped their target price on International Seaways from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Finally, Zacks Research lowered International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.67.

International Seaways Price Performance

The firm has a market capitalization of $3.29 billion, a P/E ratio of 15.12 and a beta of -0.19. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. The business’s 50 day moving average is $55.55 and its 200-day moving average is $50.62.

Insider Buying and Selling at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $63.29, for a total value of $63,290.00. Following the sale, the chief financial officer directly owned 83,463 shares of the company’s stock, valued at $5,282,373.27. This trade represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $63.96, for a total value of $127,920.00. Following the completion of the transaction, the chief executive officer owned 178,421 shares in the company, valued at approximately $11,411,807.16. This represents a 1.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 9,000 shares of company stock valued at $502,610. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On International Seaways

Institutional investors have recently added to or reduced their stakes in the stock. First Horizon Corp boosted its position in International Seaways by 121.6% in the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after buying an additional 377 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of International Seaways by 99.5% in the 3rd quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 378 shares during the last quarter. Leonteq Securities AG bought a new stake in International Seaways during the 4th quarter worth $44,000. Garton & Associates Financial Advisors LLC acquired a new position in International Seaways in the 4th quarter worth about $46,000. Finally, Founders Capital Management raised its position in International Seaways by 37.5% in the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 300 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

International Seaways Company Profile

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.