International Seaways Inc. (NYSE:INSW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

According to Zacks, “International Seaways, Inc. is a tanker company. It provides energy transportation services for crude oil and petroleum products. The company owns and operates a fleet which includes ULCC, eight VLCCs, eight Aframaxes/LR2s, 12 Panamaxes/LR1s and 20 MR tankers. International Seaways, Inc. is headquartered in New York City. “

Separately, J P Morgan Chase & Co initiated coverage on International Seaways in a research report on Tuesday, June 13th. They issued an “overweight” rating and a $30.00 price objective on the stock.

Shares of International Seaways (NYSE INSW) traded down 0.70% during trading on Thursday, hitting $21.34. The stock had a trading volume of 156,470 shares. The firm’s 50 day moving average is $22.04 and its 200 day moving average is $19.90. International Seaways has a 1-year low of $9.00 and a 1-year high of $23.43. The company’s market cap is $623.32 million.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Wednesday, August 9th. The transportation company reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.55. The company had revenue of $71.90 million during the quarter, compared to the consensus estimate of $73 million. The company’s quarterly revenue was down 30.3% on a year-over-year basis. Equities research analysts anticipate that International Seaways will post $1.17 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “International Seaways Inc. (INSW) Downgraded to “Hold” at Zacks Investment Research” was first reported by Daily Political and is the sole property of of Daily Political. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright legislation. The legal version of this piece can be accessed at https://www.dailypolitical.com/2017/08/10/international-seaways-inc-insw-downgraded-to-hold-at-zacks-investment-research.html.

Several large investors have recently modified their holdings of the company. Russell Investments Group Ltd. increased its stake in shares of International Seaways by 25.3% in the second quarter. Russell Investments Group Ltd. now owns 436,665 shares of the transportation company’s stock worth $9,463,000 after buying an additional 88,302 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of International Seaways by 85.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 54,098 shares of the transportation company’s stock worth $1,173,000 after buying an additional 25,000 shares during the period. Rhumbline Advisers increased its stake in shares of International Seaways by 105.2% in the second quarter. Rhumbline Advisers now owns 33,878 shares of the transportation company’s stock worth $734,000 after buying an additional 17,369 shares during the period. Bank of New York Mellon Corp increased its stake in shares of International Seaways by 74.4% in the second quarter. Bank of New York Mellon Corp now owns 132,538 shares of the transportation company’s stock worth $2,871,000 after buying an additional 56,562 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of International Seaways by 61.7% in the second quarter. Legal & General Group Plc now owns 6,350 shares of the transportation company’s stock worth $138,000 after buying an additional 2,424 shares during the period. Institutional investors own 85.67% of the company’s stock.

About International Seaways

International Seaways, Inc and its subsidiaries own and operate a fleet of oceangoing vessels. The Company’s oceangoing vessels engage in the transportation of crude oil and petroleum products in the International Flag trades. The Company’s segments are International Crude Tankers and International Product Carriers.

Get a free copy of the Zacks research report on International Seaways (INSW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for International Seaways Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Seaways Inc. and related companies with MarketBeat.com's FREE daily email newsletter.