International Seaways (NYSE:INSW) Rating Lowered to Hold at StockNews.com

International Seaways (NYSE:INSW) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Separately, Jefferies Financial Group reaffirmed a “buy” rating and set a $66.00 target price on shares of International Seaways in a report on Thursday, February 29th.

International Seaways Price Performance

Shares of NYSE INSW traded up $0.29 during mid-day trading on Wednesday, hitting $52.75. 403,820 shares of the stock traded hands, compared to its average volume of 531,460. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.38 and a quick ratio of 2.37. International Seaways has a twelve month low of $34.77 and a twelve month high of $55.59. The company has a market cap of $2.58 billion, a PE ratio of 4.69 and a beta of -0.05. The firm has a 50 day simple moving average of $52.60 and a two-hundred day simple moving average of $49.27.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.10. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. The company had revenue of $250.73 million for the quarter, compared to the consensus estimate of $239.36 million. As a group, equities research analysts forecast that International Seaways will post 9.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other International Seaways news, Director Douglas D. Wheat sold 3,846 shares of International Seaways stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $51.22, for a total transaction of $196,992.12. Following the transaction, the director now directly owns 26,056 shares of the company’s stock, valued at approximately $1,334,588.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Jeffrey Pribor sold 16,000 shares of International Seaways stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $51.59, for a total value of $825,440.00. Following the completion of the transaction, the chief financial officer now directly owns 67,956 shares of the company’s stock, valued at approximately $3,505,850.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Douglas D. Wheat sold 3,846 shares of International Seaways stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $51.22, for a total value of $196,992.12. Following the completion of the transaction, the director now directly owns 26,056 shares of the company’s stock, valued at $1,334,588.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,846 shares of company stock valued at $3,073,978. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Raymond James & Associates increased its position in International Seaways by 66.3% in the 1st quarter. Raymond James & Associates now owns 30,045 shares of the transportation company’s stock valued at $542,000 after buying an additional 11,977 shares in the last quarter. Natixis Advisors L.P. increased its position in International Seaways by 17.0% in the 1st quarter. Natixis Advisors L.P. now owns 49,006 shares of the transportation company’s stock valued at $884,000 after buying an additional 7,125 shares in the last quarter. BlackRock Inc. increased its position in International Seaways by 0.5% in the 1st quarter. BlackRock Inc. now owns 3,280,445 shares of the transportation company’s stock valued at $59,180,000 after buying an additional 16,434 shares in the last quarter. Dimensional Fund Advisors LP increased its position in International Seaways by 8.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,838,288 shares of the transportation company’s stock valued at $33,162,000 after buying an additional 136,964 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in International Seaways by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 3,465,109 shares of the transportation company’s stock valued at $62,511,000 after buying an additional 64,562 shares in the last quarter. 67.29% of the stock is owned by institutional investors.

International Seaways Company Profile

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.