International Seaways Inc. (NYSE:INSW) Stock Has Consensus Target Price of $109.80 According to Analysts

International Seaways Inc. (NYSE:INSW) has been given an average recommendation of “Moderate Buy” by the eight research firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $109.80.

Several equities analysts recently commented on INSW shares. Weiss Ratings upgraded International Seaways from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Jefferies Financial Group raised their price target on International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, August 13th. B. Riley Financial lifted their price target on International Seaways from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, October 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $107.00 price target on shares of International Seaways in a research report on Tuesday, September 1st. Finally, BTIG Research boosted their price objective on International Seaways from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, September 18th.

Insider Transactions at International Seaways

In related news, major shareholder Finance Ltd Famatown sold 102,000 shares of the stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $111.82, for a total transaction of $11,405,640.00. Following the completion of the sale, the insider directly owned 6,932,458 shares in the company, valued at $775,187,453.56. This represents a 1.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Lois Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $114.23, for a total transaction of $228,460.00. Following the completion of the transaction, the chief executive officer directly owned 169,745 shares in the company, valued at approximately $19,389,971.35. The trade was a 1.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 655,028 shares of company stock worth $76,362,341 over the last ninety days. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On International Seaways

A number of large investors have recently made changes to their positions in the business. Maryland State Retirement & Pension System grew its holdings in International Seaways by 55.5% during the 3rd quarter. Maryland State Retirement & Pension System now owns 9,236 shares of the transportation company’s stock valued at $1,017,000 after purchasing an additional 3,298 shares during the last quarter. Knights of Columbus Asset Advisors LLC lifted its stake in International Seaways by 0.5% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 29,150 shares of the transportation company’s stock worth $3,211,000 after purchasing an additional 134 shares during the last quarter. Kestra Investment Management LLC lifted its stake in International Seaways by 4.2% in the third quarter. Kestra Investment Management LLC now owns 10,788 shares of the transportation company’s stock worth $1,188,000 after purchasing an additional 431 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in International Seaways by 5.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 18,785 shares of the transportation company’s stock worth $2,153,000 after purchasing an additional 1,009 shares during the last quarter. Finally, Brighton Jones LLC purchased a new position in shares of International Seaways during the third quarter valued at approximately $279,000. 67.29% of the stock is currently owned by institutional investors.

International Seaways Stock Up 3.9%

INSW opened at $98.15 on Friday. The company has a 50 day moving average of $108.69 and a 200 day moving average of $86.58. The company has a market cap of $4.86 billion, a PE ratio of 4.65, a price-to-earnings-growth ratio of 0.26 and a beta of -0.10. International Seaways has a 12 month low of $46.09 and a 12 month high of $126.27. The company has a current ratio of 6.69, a quick ratio of 5.76 and a debt-to-equity ratio of 0.28.

International Seaways (NYSE:INSW) last issued its earnings results on Thursday, November 5th. The transportation company reported $5.84 EPS for the quarter, missing the consensus estimate of $6.13 by ($0.29). The company had revenue of $483.20 million during the quarter, compared to the consensus estimate of $349.50 million. International Seaways had a return on equity of 40.81% and a net margin of 68.19%. The firm’s revenue for the quarter was up 146.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.15 EPS. On average, sell-side analysts expect that International Seaways will post 22.29 EPS for the current year.

International Seaways Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 23rd. Stockholders of record on Wednesday, December 9th will be issued a $5.05 dividend. This represents a $20.20 dividend on an annualized basis and a dividend yield of 20.6%. The ex-dividend date is Wednesday, December 9th. International Seaways’s payout ratio is presently 95.64%.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is a maritime transportation company that owns and operates oceangoing tankers. Its vessels transport crude oil, refined petroleum products and other energy-related cargoes for oil companies, commodity traders, refiners and other customers in international markets.

The company’s fleet includes large crude carriers and product tankers serving a range of transportation needs. International Seaways operates vessels on the global waterborne energy transportation network, with routes connecting major oil-producing regions, refining centers and consuming markets.

International Seaways was established as an independent public company in 2016 following its spin-off from Overseas Shipholding Group.