International Seaways (NYSE:INSW) Price Target Raised to $108.00

International Seaways (NYSE:INSW) had its target price upped by investment analysts at Jefferies Financial Group from $100.00 to $108.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Jefferies Financial Group’s target price indicates a potential upside of 16.42% from the stock’s current price.

Other research analysts have also issued reports about the company. Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. Pareto Securities downgraded International Seaways from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Weiss Ratings reissued a “buy (b-)” rating on shares of International Seaways in a research report on Friday, August 7th. Finally, BTIG Research upped their price target on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, International Seaways currently has a consensus rating of “Buy” and an average target price of $88.00.

International Seaways Stock Performance

Shares of INSW stock opened at $92.77 on Thursday. International Seaways has a one year low of $41.21 and a one year high of $98.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.28 and a current ratio of 7.34. The company has a 50 day moving average price of $86.65 and a 200 day moving average price of $78.01. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 5.93 and a beta of -0.13.

International Seaways (NYSE:INSW) last announced its quarterly earnings results 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 net margin of 61.98% and a return on equity of 32.59%. The company had revenue of $467.29 million for the quarter, compared to analyst estimates of $406.38 million. During the same quarter last year, the business earned $1.02 EPS. International Seaways’s revenue for the quarter was up 138.9% on a year-over-year basis. Sell-side analysts anticipate that International Seaways will post 15.89 EPS for the current year.

Insider Buying and Selling at International Seaways

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $81.34, for a total value of $162,680.00. Following the completion of the sale, the chief executive officer owned 177,745 shares of the company’s stock, valued at $14,457,778.30. This represents a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $81.68, for a total transaction of $81,680.00. Following the completion of the transaction, the chief financial officer directly owned 101,984 shares in the company, valued at approximately $8,330,053.12. This represents a 0.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 6,000 shares of company stock valued at $496,540 in the last three months. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new position in shares of International Seaways during the second quarter worth about $28,000. Allworth Financial LP purchased a new stake in shares of International Seaways in the second quarter worth about $48,000. First Horizon Corp grew its stake in shares of International Seaways by 121.6% in the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after buying an additional 377 shares in the last quarter. Leonteq Securities AG acquired a new stake in shares of International Seaways in the fourth quarter valued at about $44,000. Finally, Compass Financial Management LLC acquired a new stake in shares of International Seaways in the second quarter valued at about $86,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

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.