Zacks Research Upgrades International Seaways (NYSE:INSW) to “Strong-Buy”

International Seaways (NYSE:INSW) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

Other analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $107.00 price objective on shares of International Seaways in a report on Tuesday, September 1st. B. Riley Financial raised 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. Jefferies Financial Group lifted their price objective on International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. BTIG Research boosted their price objective on International Seaways from $100.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, September 18th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of International Seaways in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, International Seaways has a consensus rating of “Buy” and a consensus target price of $109.80.

International Seaways Stock Performance

INSW opened at $121.35 on Wednesday. The company has a market cap of $6.01 billion, a PE ratio of 7.76, a price-to-earnings-growth ratio of 0.28 and a beta of -0.14. The stock has a 50-day moving average of $102.67 and a 200-day moving average of $89.21. International Seaways has a 52-week low of $42.26 and a 52-week high of $121.82. 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 (NYSE:INSW) last issued its quarterly earnings data on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, beating analysts’ consensus estimates of $5.55 by $0.36. International Seaways had a return on equity of 31.75% and a net margin of 61.98%.The business had revenue of $467.29 million for the quarter, compared to the consensus estimate of $406.38 million. During the same period last year, the business earned $1.02 EPS. The firm’s revenue was up 138.9% compared to the same quarter last year. As a group, equities research analysts forecast that International Seaways will post 17.08 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Lois Zabrocky sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $108.01, for a total transaction of $216,020.00. Following the transaction, the chief executive officer owned 171,745 shares in the company, valued at approximately $18,550,177.45. The trade was a 1.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On International Seaways

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in shares of International Seaways in the 2nd quarter worth approximately $28,000. Rockefeller Capital Management L.P. raised its stake in shares of International Seaways by 583.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 822 shares in the last quarter. Allworth Financial LP acquired a new position in shares of International Seaways in the second quarter valued at $48,000. Public Employees Retirement System of Ohio bought a new position in International Seaways in the second quarter worth $66,000. Finally, Compass Financial Management LLC bought a new position in International Seaways in the second quarter worth $72,000. 67.29% of the stock is currently owned by institutional investors.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is a maritime transportation company that owns and operates oceangoing tankers. The company transports crude oil, refined petroleum products and other liquid cargoes for energy producers, commodity traders, refiners and other customers worldwide.

Its fleet includes crude-oil tankers serving major international trade routes, as well as product tankers used to move gasoline, diesel, jet fuel and other refined petroleum products. International Seaways employs a combination of time-charter, voyage-charter and pool arrangements to market its vessels and provide transportation services.

International Seaways was established in 2016 through the separation of the international tanker business from Overseas Shipholding Group.