Jefferies Financial Group set a $30.00 target price on International Seaways (NYSE:INSW) in a report issued on Thursday. The brokerage currently has a buy rating on the transportation company’s stock.
A number of other equities analysts have also weighed in on the company. ValuEngine raised International Seaways from a hold rating to a buy rating in a research report on Friday, November 30th. Zacks Investment Research raised International Seaways from a sell rating to a hold rating in a research report on Tuesday, November 13th. B. Riley began coverage on International Seaways in a research report on Friday, November 9th. They issued a neutral rating and a $21.50 target price for the company. Finally, Stifel Nicolaus began coverage on International Seaways in a research report on Tuesday, September 25th. They issued a buy rating and a $25.00 target price for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. International Seaways has an average rating of Buy and a consensus target price of $26.38.
Shares of INSW traded up $0.07 during trading hours on Thursday, hitting $18.52. The company had a trading volume of 1,185 shares, compared to its average volume of 151,034. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.73 and a quick ratio of 1.69. The firm has a market cap of $535.52 million, a PE ratio of -63.86 and a beta of -0.87. International Seaways has a 52-week low of $15.23 and a 52-week high of $24.78.
International Seaways (NYSE:INSW) last posted its quarterly earnings results on Wednesday, November 7th. The transportation company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.30). International Seaways had a negative return on equity of 7.92% and a negative net margin of 78.00%. The company had revenue of $60.93 million during the quarter, compared to analysts’ expectations of $54.59 million. As a group, sell-side analysts anticipate that International Seaways will post -2.58 EPS for the current year.
In other news, major shareholder Bluemountain Capital Managemen sold 166,765 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $20.93, for a total transaction of $3,490,391.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Paulson & Co. Inc. sold 125,000 shares of the company’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $18.15, for a total transaction of $2,268,750.00. The disclosure for this sale can be found here. In the last three months, insiders sold 2,065,780 shares of company stock valued at $42,618,560. 0.90% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in INSW. Public Employees Retirement Association of Colorado purchased a new stake in shares of International Seaways during the 3rd quarter valued at about $188,000. United Services Automobile Association purchased a new stake in shares of International Seaways during the 2nd quarter valued at about $225,000. Russell Investments Group Ltd. increased its position in shares of International Seaways by 123.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 15,918 shares of the transportation company’s stock valued at $319,000 after purchasing an additional 8,800 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of International Seaways during the 2nd quarter valued at about $427,000. Finally, LMR Partners LLP purchased a new stake in shares of International Seaways during the 2nd quarter valued at about $452,000. 84.61% of the stock is owned by hedge funds and other institutional investors.
International Seaways Company Profile
International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the International Flag trades. It operates through two segments, Crude Tankers and Product Carriers. As of June 14, 2018, the company owned and operated a fleet of 55 vessels, including 1 ultra large crude carrier, 14 very large crude carriers, 2 Suezmaxes, 7 Aframaxes, 12 Panamaxes, and 13 medium range tankers.
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