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

Shares of International Seaways Inc. (NYSE:INSW) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $61.37 and last traded at $60.80, with a volume of 24277 shares traded. The stock had previously closed at $61.06.

Analyst Upgrades and Downgrades

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

International Seaways Trading Up 0.0%

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a market cap of $3.02 billion, a P/E ratio of 13.93 and a beta of -0.19. The firm’s fifty day moving average price is $52.91 and its two-hundred day moving average price is $49.03.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, November 6th. The transportation company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.24. The firm had revenue of $196.39 million during the quarter, compared to the consensus estimate of $180.92 million. International Seaways had a return on equity of 10.13% and a net margin of 28.26%.The company’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter last year, the company posted $1.57 EPS. As a group, equities research analysts forecast that International Seaways Inc. will post 7.77 EPS for the current year.

Insider Buying and Selling

In related news, CAO James D. Small III sold 20,000 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $53.60, for a total value of $1,072,000.00. Following the transaction, the chief accounting officer owned 49,292 shares of the company’s stock, valued at $2,642,051.20. This represents a 28.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $55.68, for a total value of $55,680.00. Following the sale, the chief financial officer directly owned 79,073 shares of the company’s stock, valued at approximately $4,402,784.64. This trade represents a 1.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 29,000 shares of company stock worth $1,544,620. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in INSW. Dimensional Fund Advisors LP lifted its stake in International Seaways by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,903,764 shares of the transportation company’s stock worth $133,807,000 after purchasing an additional 42,051 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of International Seaways by 7.5% in the 3rd quarter. American Century Companies Inc. now owns 1,994,978 shares of the transportation company’s stock valued at $91,929,000 after acquiring an additional 139,868 shares during the last quarter. Geode Capital Management LLC boosted its holdings in International Seaways by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,006,390 shares of the transportation company’s stock valued at $36,718,000 after acquiring an additional 6,076 shares during the period. Donald Smith & CO. Inc. grew its position in International Seaways by 43.9% during the 2nd quarter. Donald Smith & CO. Inc. now owns 709,036 shares of the transportation company’s stock worth $25,866,000 after acquiring an additional 216,325 shares during the last quarter. Finally, Encompass Capital Advisors LLC increased its stake in International Seaways by 33.3% in the 2nd quarter. Encompass Capital Advisors LLC now owns 399,824 shares of the transportation company’s stock worth $14,586,000 after purchasing an additional 99,914 shares during the period. 67.29% of the stock is owned by hedge funds and other institutional investors.

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.