International Seaways (NYSE:INSW) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of International Seaways (NYSE:INSW) from a buy rating to a hold rating in a research note issued to investors on Saturday.

INSW has been the topic of a number of other reports. Zacks Research lowered shares of International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Seaways in a research report on Thursday, January 22nd. BTIG Research increased their price objective on International Seaways from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Finally, Pareto Securities raised International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Tuesday, January 20th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

International Seaways Stock Performance

NYSE INSW opened at $60.98 on Friday. The company has a market cap of $3.01 billion, a P/E ratio of 13.89 and a beta of -0.19. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a 50-day moving average of $53.10 and a two-hundred day moving average of $49.18. International Seaways has a 1-year low of $27.20 and a 1-year high of $61.56.

Insider Activity

In other International Seaways news, CAO James D. Small III sold 20,000 shares of International Seaways stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $53.60, for a total transaction of $1,072,000.00. Following the completion of the sale, the chief accounting officer directly owned 49,292 shares of the company’s stock, valued at $2,642,051.20. The trade was a 28.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $55.17, for a total value of $110,340.00. Following the completion of the transaction, the chief executive officer owned 180,421 shares in the company, valued at approximately $9,953,826.57. The trade was a 1.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 29,000 shares of company stock worth $1,544,620. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On International Seaways

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Horizon Corp lifted its position in shares of International Seaways by 121.6% during the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock worth $33,000 after buying an additional 377 shares during the last quarter. Federated Hermes Inc. grew its position 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 buying an additional 378 shares during the last quarter. Leonteq Securities AG acquired a new stake in International Seaways during the 4th quarter worth $44,000. Founders Capital Management lifted 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 acquiring an additional 300 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in International Seaways in the third quarter valued at $53,000. 67.29% of the stock is 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.