International Seaways (NYSE:INSW) Lowered to “Hold” at StockNews.com

International Seaways (NYSE:INSW) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Separately, Jefferies Financial Group reiterated a “buy” rating and issued a $66.00 price objective on shares of International Seaways in a research report on Thursday, February 29th.

International Seaways Stock Performance

INSW traded up $0.29 during midday trading on Wednesday, reaching $52.75. The company’s stock had a trading volume of 403,820 shares, compared to its average volume of 531,460. The stock has a market cap of $2.58 billion, a P/E ratio of 4.69 and a beta of -0.05. The company has a fifty day simple moving average of $52.60 and a 200 day simple moving average of $49.27. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.35. International Seaways has a twelve month low of $34.77 and a twelve month high of $55.59.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.10. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. The company had revenue of $250.73 million during the quarter, compared to the consensus estimate of $239.36 million. Research analysts expect that International Seaways will post 9.27 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $54.23, for a total transaction of $54,230.00. Following the completion of the transaction, the chief financial officer now owns 75,927 shares in the company, valued at approximately $4,117,521.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $54.23, for a total transaction of $54,230.00. Following the completion of the transaction, the chief financial officer now owns 75,927 shares in the company, valued at approximately $4,117,521.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Lois K. Zabrocky sold 13,760 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $52.87, for a total value of $727,491.20. Following the transaction, the chief executive officer now owns 148,942 shares of the company’s stock, valued at approximately $7,874,563.54. The disclosure for this sale can be found here. Insiders sold 58,846 shares of company stock worth $3,073,978 in the last 90 days. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On International Seaways

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in International Seaways by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 3,700,058 shares of the transportation company’s stock valued at $168,279,000 after purchasing an additional 119,000 shares during the last quarter. BlackRock Inc. raised its position in International Seaways by 1.3% in the 3rd quarter. BlackRock Inc. now owns 3,365,733 shares of the transportation company’s stock valued at $118,238,000 after purchasing an additional 43,736 shares during the last quarter. Dimensional Fund Advisors LP raised its position in International Seaways by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,198,419 shares of the transportation company’s stock valued at $145,464,000 after purchasing an additional 122,642 shares during the last quarter. Donald Smith & CO. Inc. raised its position in International Seaways by 24.6% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,613,803 shares of the transportation company’s stock valued at $73,396,000 after purchasing an additional 318,962 shares during the last quarter. Finally, State Street Corp raised its position in International Seaways by 5.0% in the 1st quarter. State Street Corp now owns 1,186,385 shares of the transportation company’s stock valued at $49,449,000 after purchasing an additional 56,497 shares during the last quarter. Institutional investors own 67.29% of the company’s stock.

About International Seaways

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.