International Seaways (NYSE:INSW) Price Target Raised to $64.00 at Stifel Nicolaus

International Seaways (NYSE:INSW) had its price objective lifted by investment analysts at Stifel Nicolaus from $63.00 to $64.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 21.97% from the company’s current price.

INSW has been the topic of several other reports. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Wednesday. Jefferies Financial Group reiterated a “buy” rating and set a $66.00 price objective on shares of International Seaways in a research note on Thursday, February 29th.

International Seaways Trading Up 1.7 %

Shares of INSW stock traded up $0.86 during mid-day trading on Friday, reaching $52.47. The company’s stock had a trading volume of 227,288 shares, compared to its average volume of 525,344. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $2.57 billion, a PE ratio of 4.66 and a beta of -0.05. The company’s 50 day simple moving average is $52.61 and its 200-day simple moving average is $49.29. International Seaways has a 12-month low of $34.77 and a 12-month high of $55.59.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.08 by $0.10. The company had revenue of $250.73 million for the quarter, compared to analyst estimates of $239.36 million. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. On average, research analysts predict that International Seaways will post 9.27 EPS for the current fiscal year.

Insider Activity at International Seaways

In other news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $54.23, for a total transaction of $54,230.00. Following the completion of the sale, the chief financial officer now owns 75,927 shares of the company’s stock, valued at $4,117,521.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $54.23, for a total value of $54,230.00. Following the sale, the chief financial officer now owns 75,927 shares in the company, valued at approximately $4,117,521.21. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Alexandra Kate Blankenship sold 6,000 shares of International Seaways stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $53.09, for a total value of $318,540.00. Following the completion of the transaction, the director now owns 19,098 shares of the company’s stock, valued at $1,013,912.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,846 shares of company stock valued at $3,073,978. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On International Seaways

Institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in International Seaways in the fourth quarter worth $4,137,000. Qube Research & Technologies Ltd boosted its holdings in shares of International Seaways by 103.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 44,250 shares of the transportation company’s stock valued at $1,991,000 after buying an additional 22,545 shares during the period. Hosking Partners LLP grew its position in shares of International Seaways by 20.1% during the 3rd quarter. Hosking Partners LLP now owns 964,530 shares of the transportation company’s stock valued at $43,404,000 after buying an additional 161,643 shares during the last quarter. Natixis Advisors L.P. grew its position in shares of International Seaways by 103.2% during the 3rd quarter. Natixis Advisors L.P. now owns 41,973 shares of the transportation company’s stock valued at $1,889,000 after buying an additional 21,320 shares during the last quarter. Finally, Barclays PLC raised its stake in International Seaways by 160.9% during the third quarter. Barclays PLC now owns 55,522 shares of the transportation company’s stock worth $2,498,000 after acquiring an additional 34,242 shares during the period. 67.29% of the stock is currently owned by institutional investors.

About International Seaways

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.