International Seaways (NYSE:INSW) Stock Rating Lowered by Wall Street Zen

International Seaways (NYSE:INSW) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other research analysts have also weighed in on the stock. Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 7th. Jefferies Financial Group increased their price objective on shares of International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $107.00 price objective on shares of International Seaways in a report on Tuesday, September 1st. BTIG Research raised their price objective on shares of International Seaways from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, September 18th. Finally, Weiss Ratings raised shares of International Seaways from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $109.80.

International Seaways Trading Up 0.1%

NYSE:INSW opened at $110.93 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.94 and a quick ratio of 5.76. The business’s 50-day simple moving average is $107.22 and its 200-day simple moving average is $92.41. International Seaways has a fifty-two week low of $46.09 and a fifty-two week high of $126.27. The stock has a market capitalization of $5.49 billion, a PE ratio of 7.09, a price-to-earnings-growth ratio of 0.29 and a beta of -0.14.

International Seaways (NYSE:INSW) last posted its earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.55 by $0.36. The business had revenue of $467.29 million during the quarter, compared to analysts’ expectations of $406.38 million. International Seaways had a return on equity of 31.75% and a net margin of 61.98%. International Seaways’s revenue for the quarter was up 138.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.02 EPS. Sell-side analysts expect that International Seaways will post 17.47 earnings per share for the current fiscal year.

Insider Transactions at International Seaways

In other news, major shareholder Finance Ltd Famatown sold 102,000 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $111.82, for a total value of $11,405,640.00. Following the completion of the transaction, the insider owned 6,932,458 shares in the company, valued at $775,187,453.56. This trade represents a 1.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lois Zabrocky sold 2,000 shares of the firm’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $114.23, for a total value of $228,460.00. Following the completion of the transaction, the chief executive officer owned 169,745 shares of the company’s stock, valued at $19,389,971.35. The trade was a 1.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 451,290 shares of company stock valued at $51,351,266. Company insiders own 1.70% of the company’s stock.

Institutional Trading of International Seaways

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP bought a new position in International Seaways in the second quarter valued at approximately $28,000. Root Financial Partners LLC acquired a new position in shares of International Seaways during the 3rd quarter worth approximately $33,000. Mather Group LLC. raised its stake in shares of International Seaways by 100.0% during the 3rd quarter. Mather Group LLC. now owns 400 shares of the transportation company’s stock worth $44,000 after purchasing an additional 200 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of International Seaways by 583.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after purchasing an additional 822 shares in the last quarter. Finally, Allworth Financial LP bought a new stake in shares of International Seaways during the 2nd quarter worth approximately $48,000. Institutional investors own 67.29% of the company’s stock.

About International Seaways

International Seaways, Inc (NYSE: INSW) is a maritime transportation company that owns and operates oceangoing tankers. Its vessels transport crude oil, refined petroleum products and other energy-related cargoes for oil companies, commodity traders, refiners and other customers in international markets.

The company’s fleet includes large crude carriers and product tankers serving a range of transportation needs. International Seaways operates vessels on the global waterborne energy transportation network, with routes connecting major oil-producing regions, refining centers and consuming markets.

International Seaways was established as an independent public company in 2016 following its spin-off from Overseas Shipholding Group.