International Seaways (NYSE:INSW) Downgraded by Zacks Research to “Hold”

Zacks Research downgraded shares of International Seaways (NYSE:INSW) from a strong-buy rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

INSW has been the topic of a number of other research reports. Pareto Securities lowered International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “hold (c+)” rating on shares of International Seaways in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered International Seaways from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $52.67.

International Seaways Trading Up 3.5%

International Seaways stock opened at $50.13 on Monday. The stock has a 50-day moving average price of $50.79 and a 200 day moving average price of $46.02. International Seaways has a 52 week low of $27.20 and a 52 week high of $55.18. The stock has a market cap of $2.48 billion, a PE ratio of 11.61 and a beta of -0.18. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Wednesday, November 23rd. The transportation company reported ($0.63) earnings per share (EPS) for the quarter. The firm had revenue of $84.82 million for the quarter. International Seaways had a return on equity of 10.13% and a net margin of 28.26%. Equities research analysts predict that International Seaways will post 7.77 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Tuesday, December 9th were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.0%. International Seaways’s dividend payout ratio is presently 10.93%.

Insider Buying and Selling at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $48.26, for a total transaction of $48,260.00. Following the completion of the sale, the chief financial officer directly owned 75,242 shares of the company’s stock, valued at approximately $3,631,178.92. This represents a 1.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Derek G. Solon sold 3,500 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $53.71, for a total value of $187,985.00. Following the completion of the transaction, the senior vice president directly owned 49,393 shares in the company, valued at $2,652,898.03. This trade represents a 6.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 32,500 shares of company stock worth $1,698,825. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On International Seaways

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in International Seaways by 42.0% during the 1st quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company’s stock valued at $311,000 after purchasing an additional 2,768 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in International Seaways by 3.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company’s stock valued at $800,000 after purchasing an additional 900 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of International Seaways by 0.4% during the first quarter. Empowered Funds LLC now owns 274,122 shares of the transportation company’s stock worth $9,101,000 after purchasing an additional 1,090 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of International Seaways by 16.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company’s stock worth $4,264,000 after buying an additional 18,509 shares during the last quarter. Finally, Strs Ohio acquired a new position in shares of International Seaways in the 1st quarter valued at about $651,000. 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.