International Seaways Inc (NYSE:INSW) Given Average Recommendation of “Hold” by Analysts

Shares of International Seaways Inc (NYSE:INSW) have been given an average recommendation of “Hold” by the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $26.00.

A number of analysts have issued reports on INSW shares. Zacks Investment Research downgraded International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. BTIG Research initiated coverage on shares of International Seaways in a report on Friday, October 11th. They issued a “buy” rating and a $30.00 target price for the company. Finally, ValuEngine cut shares of International Seaways from a “hold” rating to a “sell” rating in a research report on Friday, November 8th.

Shares of International Seaways stock traded up $0.90 during trading on Friday, reaching $27.73. 359,465 shares of the stock traded hands, compared to its average volume of 187,300. International Seaways has a 52-week low of $15.15 and a 52-week high of $27.82. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.60 and a quick ratio of 1.57. The business has a fifty day simple moving average of $25.91 and a two-hundred day simple moving average of $20.30. The company has a market capitalization of $760.73 million, a price-to-earnings ratio of -12.60 and a beta of 0.30.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, November 7th. The transportation company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.03). International Seaways had a negative return on equity of 0.69% and a negative net margin of 2.85%. The firm had revenue of $71.28 million during the quarter, compared to analysts’ expectations of $72.42 million. On average, research analysts predict that International Seaways will post 0.74 earnings per share for the current fiscal year.

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $26.44, for a total transaction of $26,440.00. Following the sale, the chief financial officer now directly owns 11,992 shares of the company’s stock, valued at $317,068.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Randee E. Day sold 5,300 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $26.05, for a total value of $138,065.00. Following the sale, the director now directly owns 8,261 shares in the company, valued at $215,199.05. The disclosure for this sale can be found here. Insiders have sold a total of 7,300 shares of company stock worth $183,995 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Large investors have recently bought and sold shares of the company. Donald Smith & CO. Inc. raised its holdings in International Seaways by 18.4% during the 3rd quarter. Donald Smith & CO. Inc. now owns 2,604,359 shares of the transportation company’s stock valued at $50,160,000 after buying an additional 404,977 shares during the period. BlackRock Inc. increased its position in International Seaways by 15.3% during the second quarter. BlackRock Inc. now owns 1,818,598 shares of the transportation company’s stock valued at $34,553,000 after acquiring an additional 241,547 shares during the last quarter. Citadel Advisors LLC raised its stake in shares of International Seaways by 323.7% in the second quarter. Citadel Advisors LLC now owns 264,308 shares of the transportation company’s stock valued at $5,022,000 after acquiring an additional 201,928 shares during the period. Carlson Capital L P raised its stake in shares of International Seaways by 44.6% in the second quarter. Carlson Capital L P now owns 474,067 shares of the transportation company’s stock valued at $9,007,000 after acquiring an additional 146,300 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of International Seaways by 1,001.0% in the 2nd quarter. Renaissance Technologies LLC now owns 115,600 shares of the transportation company’s stock worth $2,196,000 after acquiring an additional 105,100 shares during the last quarter. 77.02% of the stock is owned by institutional investors and hedge funds.

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 trades. It operates through two segments, Crude Tankers and Product Carriers. As of December 31, 2018, the company owned and operated a fleet of 48 vessels, including 13 very large crude carriers, 2 Suezmaxes, 6 Aframaxes, 11 Panamaxes, and 10 medium range tankers.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

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