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

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

Analyst Ratings Changes

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

International Seaways Trading Up 0.7%

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.75. The business has a fifty day moving average price of $54.20 and a 200 day moving average price of $49.95. The company has a market capitalization of $3.18 billion, a PE ratio of 14.67 and a beta of -0.19.

Insider Buying and Selling

In other news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $55.68, for a total value of $55,680.00. Following the completion of the transaction, the chief financial officer directly owned 79,073 shares in the company, valued at approximately $4,402,784.64. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s 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 sale, the chief executive officer directly owned 182,421 shares of the company’s stock, valued at approximately $8,858,363.76. The trade was a 1.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 6,000 shares of company stock valued at $311,400. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of INSW. Amundi acquired a new stake in International Seaways during the 4th quarter valued at approximately $13,663,000. Price T Rowe Associates Inc. MD boosted its stake in shares of International Seaways by 4.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,540 shares of the transportation company’s stock valued at $1,872,000 after buying an additional 1,560 shares during the last quarter. Weiss Asset Management LP acquired a new stake in shares of International Seaways during the fourth quarter worth approximately $2,075,000. Captrust Financial Advisors acquired a new stake in shares of International Seaways during the fourth quarter worth approximately $209,000. Finally, Persistent Asset Partners Ltd bought a new stake in shares of International Seaways in the fourth quarter worth $97,000. 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.