International Seaways (NYSE:INSW) Reaches New 52-Week High – Here’s Why

International Seaways Inc. (NYSE:INSW) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $70.00 and last traded at $66.7550, with a volume of 882 shares trading hands. The stock had previously closed at $67.47.

Analyst Ratings Changes

A number of equities analysts have weighed in on INSW shares. Pareto Securities raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Tuesday, January 20th. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a research note on Thursday, January 22nd. Wall Street Zen lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Zacks Research downgraded International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, BTIG Research increased their target price on International Seaways from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.67.

International Seaways Stock Performance

The business has a fifty day moving average price of $56.35 and a 200-day moving average price of $50.98. The stock has a market capitalization of $3.45 billion, a P/E ratio of 15.89 and a beta of -0.19. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.26.

Insider Activity at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $63.96, for a total value of $127,920.00. Following the completion of the sale, the chief executive officer owned 178,421 shares of the company’s stock, valued at approximately $11,411,807.16. The trade was a 1.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $63.29, for a total value of $63,290.00. Following the completion of the transaction, the chief financial officer owned 83,463 shares in the company, valued at approximately $5,282,373.27. This trade represents a 1.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,000 shares of company stock worth $502,610 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of International Seaways

Several large investors have recently added to or reduced their stakes in INSW. First Horizon Corp grew its position in shares of International Seaways by 121.6% during the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 377 shares during the period. Federated Hermes Inc. lifted its position in International Seaways by 99.5% during the third quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 378 shares in the last quarter. Leonteq Securities AG bought a new stake in International Seaways during the fourth quarter valued at about $44,000. Garton & Associates Financial Advisors LLC bought a new position in shares of International Seaways in the fourth quarter worth about $46,000. Finally, Founders Capital Management lifted its position in shares of International Seaways by 37.5% during the 4th quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock valued at $53,000 after buying an additional 300 shares in the last quarter. 67.29% of the stock is currently owned by 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.