International Seaways (NYSE:INSW) Sets New 52-Week High – Still a Buy?

International Seaways Inc. (NYSE:INSW) reached a new 52-week high during trading on Tuesday . The company traded as high as $79.07 and last traded at $78.5610, with a volume of 46136 shares trading hands. The stock had previously closed at $77.46.

Wall Street Analyst Weigh In

INSW has been the subject of a number of research reports. Pareto Securities upgraded shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Tuesday, January 20th. Wall Street Zen upgraded shares of International Seaways from a “buy” rating to a “strong-buy” rating in a report on Monday, April 13th. Zacks Research upgraded shares of International Seaways from a “hold” rating to a “strong-buy” rating in a report on Monday, March 2nd. Benchmark restated a “buy” rating on shares of International Seaways in a report on Thursday, February 26th. Finally, Weiss Ratings cut shares of International Seaways from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $70.50.

International Seaways Stock Up 0.3%

The stock has a market capitalization of $3.77 billion, a P/E ratio of 12.23 and a beta of -0.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.71 and a quick ratio of 3.71. The stock’s fifty day moving average is $71.55 and its two-hundred day moving average is $58.74.

International Seaways (NYSE:INSW) last issued its earnings results on Thursday, February 26th. The transportation company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.70. The firm had revenue of $267.88 million during the quarter, compared to analysts’ expectations of $245.29 million. International Seaways had a net margin of 36.67% and a return on equity of 13.92%. The firm’s revenue for the quarter was up 37.7% compared to the same quarter last year. During the same period last year, the firm posted $0.90 earnings per share. As a group, research analysts predict that International Seaways Inc. will post 9.73 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Friday, March 20th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Friday, March 20th. International Seaways’s payout ratio is 7.70%.

Insider Activity at International Seaways

In other International Seaways news, Director Alexandra Kate Blankenship sold 5,000 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $74.88, for a total transaction of $374,400.00. Following the sale, the director directly owned 10,213 shares of the company’s stock, valued at $764,749.44. The trade was a 32.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Treasurer Debra Grillo sold 389 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $76.27, for a total transaction of $29,669.03. Following the sale, the treasurer directly owned 1,185 shares in the company, valued at approximately $90,379.95. This trade represents a 24.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 60,697 shares of company stock worth $4,517,070. Insiders own 2.00% of the company’s stock.

Institutional Trading of International Seaways

Several large investors have recently added to or reduced their stakes in INSW. First Horizon Corp raised its stake in International Seaways by 121.6% during the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 377 shares during the period. Federated Hermes Inc. raised its stake in International Seaways by 99.5% during the 3rd quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 378 shares during the period. Leonteq Securities AG acquired a new stake in International Seaways during the 4th quarter valued at $44,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of International Seaways during the 4th quarter valued at $46,000. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of International Seaways by 583.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock valued at $47,000 after buying an additional 822 shares during the period. 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.