International Seaways’ (INSW) Buy Rating Reaffirmed at Jefferies Financial Group

by · The Markets Daily

International Seaways (NYSE:INSW – Get Free Report)‘s stock had its “buy” rating reiterated by equities research analysts at Jefferies Financial Group in a research note issued to investors on Thursday,Benzinga reports. They presently have a $66.00 price target on the transportation company’s stock. Jefferies Financial Group’s price target points to a potential upside of 53.22% from the company’s previous close.

A number of other analysts have also commented on INSW. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Stifel Nicolaus cut International Seaways from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Finally, StockNews.com cut International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $62.67.

Read Our Latest Analysis on INSW

International Seaways Trading Down 1.8 %

Shares of INSW opened at $43.08 on Thursday. The stock’s fifty day simple moving average is $49.01 and its 200-day simple moving average is $54.30. The firm has a market capitalization of $2.14 billion, a PE ratio of 4.10 and a beta of -0.06. International Seaways has a 12-month low of $42.08 and a 12-month high of $65.94. The company has a quick ratio of 3.87, a current ratio of 3.89 and a debt-to-equity ratio of 0.35.

International Seaways (NYSE:INSW – Get Free Report) last released its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.15. The company had revenue of $225.20 million for the quarter, compared to the consensus estimate of $208.75 million. International Seaways had a net margin of 50.70% and a return on equity of 26.55%. The company’s revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.99 EPS. As a group, research analysts predict that International Seaways will post 8.5 earnings per share for the current year.

Insider Transactions at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $51.19, for a total transaction of $51,190.00. Following the completion of the sale, the senior vice president now directly owns 53,803 shares of the company’s stock, valued at approximately $2,754,175.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP William F. Nugent sold 1,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $51.19, for a total transaction of $51,190.00. Following the completion of the sale, the senior vice president now owns 53,803 shares of the company’s stock, valued at $2,754,175.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $49.22, for a total transaction of $98,440.00. Following the sale, the chief executive officer now owns 153,475 shares in the company, valued at approximately $7,554,039.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,000 shares of company stock valued at $738,920 over the last 90 days. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On International Seaways

Hedge funds and other institutional investors have recently bought and sold shares of the company. Intech Investment Management LLC acquired a new position in International Seaways during the 3rd quarter worth approximately $620,000. Aurora Investment Counsel bought a new stake in shares of International Seaways in the third quarter worth $661,000. Moors & Cabot Inc. boosted its holdings in International Seaways by 17.4% during the third quarter. Moors & Cabot Inc. now owns 11,898 shares of the transportation company’s stock worth $613,000 after purchasing an additional 1,765 shares during the last quarter. Segall Bryant & Hamill LLC grew its position in International Seaways by 3.4% in the third quarter. Segall Bryant & Hamill LLC now owns 98,597 shares of the transportation company’s stock valued at $5,084,000 after purchasing an additional 3,278 shares in the last quarter. Finally, KBC Group NV increased its stake in International Seaways by 65.2% in the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after buying an additional 428 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Company Profile

(Get Free Report)

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.

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