International Seaways (NYSE:INSW) Downgraded by Wall Street Zen to Buy

Wall Street Zen lowered shares of International Seaways (NYSE:INSW) from a strong-buy rating to a buy rating in a report released on Saturday,Wall Street Zen reports.

Several other research firms also recently commented on INSW. BTIG Research upped their price target on shares of International Seaways from $100.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, September 18th. B. Riley Financial increased their price target on shares of International Seaways from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, October 5th. Weiss Ratings raised shares of International Seaways from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $107.00 price objective on shares of International Seaways in a research report on Tuesday, September 1st. Finally, Jefferies Financial Group lifted their price objective on shares of International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $109.80.

International Seaways Stock Performance

Shares of INSW stock opened at $110.93 on Friday. The stock’s 50-day moving average is $107.22 and its two-hundred day moving average is $92.29. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94. International Seaways has a 1 year low of $46.09 and a 1 year high of $126.27. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of 7.09, a PEG ratio of 0.29 and a beta of -0.14.

International Seaways (NYSE:INSW) last announced its earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.55 by $0.36. The firm had revenue of $467.29 million during the quarter, compared to analysts’ expectations of $406.38 million. International Seaways had a return on equity of 31.75% and a net margin of 61.98%. The business’s revenue was up 138.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 EPS. Analysts predict that International Seaways will post 17.47 earnings per share for the current year.

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were given a dividend of $5.05 per share. The ex-dividend date was Thursday, September 10th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. This represents a $20.20 annualized dividend and a yield of 18.2%. International Seaways’s dividend payout ratio (DPR) is currently 129.16%.

Insider Buying and Selling

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The shares were 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 of the company’s stock, valued at $19,389,971.35. This trade represents a 1.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Finance Ltd Famatown sold 61,216 shares of the stock in a transaction on Wednesday, October 7th. The shares were sold at an average price of $117.08, for a total value of $7,167,169.28. Following the sale, the insider owned 6,704,504 shares in the company, valued at approximately $784,963,328.32. This trade represents a 0.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 451,290 shares of company stock worth $51,351,266. Insiders own 1.70% of the company’s stock.

Institutional Trading of International Seaways

Several institutional investors and hedge funds have recently made changes to their positions in INSW. Sigma Planning Corp increased its holdings in International Seaways by 107.2% during the 3rd quarter. Sigma Planning Corp now owns 6,381 shares of the transportation company’s stock worth $703,000 after purchasing an additional 3,301 shares during the last quarter. Signaturefd LLC raised its position in shares of International Seaways by 165.8% in the 3rd quarter. Signaturefd LLC now owns 1,252 shares of the transportation company’s stock valued at $138,000 after purchasing an additional 781 shares in the last quarter. Simplicity Wealth LLC raised its position in shares of International Seaways by 20.2% in the 3rd quarter. Simplicity Wealth LLC now owns 3,449 shares of the transportation company’s stock valued at $380,000 after purchasing an additional 580 shares in the last quarter. Inspire Investing LLC purchased a new position in shares of International Seaways during the 3rd quarter valued at approximately $2,480,000. Finally, Root Financial Partners LLC purchased a new position in shares of International Seaways during the 3rd quarter valued at approximately $33,000. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

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.