International Seaways (NYSE:INSW) Reaches New 12-Month High – Still a Buy?

International Seaways Inc. (NYSE:INSW) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $63.97 and last traded at $63.8560, with a volume of 65106 shares trading hands. The stock had previously closed at $63.95.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a report on Thursday, January 22nd. Zacks Research lowered International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Wall Street Zen cut shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Pareto Securities raised International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Tuesday, January 20th. Finally, BTIG Research increased their price objective on International Seaways from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.67.

International Seaways Trading Up 2.6%

The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 15.28 and a beta of -0.19. The company has a fifty day moving average price of $55.18 and a 200-day moving average price of $50.34.

Insider Buying and Selling at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $63.29, for a total transaction of $63,290.00. Following the sale, the chief financial officer directly owned 83,463 shares of the company’s stock, valued at approximately $5,282,373.27. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Monday, December 15th. The shares were sold at an average price of $48.56, for a total transaction of $97,120.00. Following the completion of the transaction, the chief executive officer directly owned 182,421 shares of the company’s stock, valued at $8,858,363.76. The trade was a 1.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 9,000 shares of company stock valued at $502,610. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On International Seaways

A number of hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. boosted its position in shares of International Seaways by 4,255.3% during the 3rd quarter. Pacer Advisors Inc. now owns 197,380 shares of the transportation company’s stock valued at $9,095,000 after acquiring an additional 192,848 shares during the last quarter. Marex Group plc acquired a new stake in International Seaways during the 2nd quarter worth approximately $4,276,000. Vanguard Personalized Indexing Management LLC acquired a new position in International Seaways during the 2nd quarter worth $273,000. Creative Planning lifted its position in shares of International Seaways by 270.9% during the 2nd quarter. Creative Planning now owns 30,981 shares of the transportation company’s stock worth $1,130,000 after purchasing an additional 22,628 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of International Seaways by 151.4% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 60,332 shares of the transportation company’s stock valued at $2,780,000 after acquiring an additional 36,337 shares during the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

About International Seaways

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.