International Seaways (NYSE:INSW) Receives Upgrade in Stock Rating by Analyst Firm

Investment analysts at StockNews.com have revised their rating for International Seaways INSW shares from a 'hold' to a 'buy' status in a recent update to investors on November 11th, 2023. This signifies a more bullish outlook on the company's stock by the analytical community.

Analyst Opinions on INSW

Additional insight into INSW's performance has been provided by various equity analysts. BTIG Research has increased their price target for INSW from $45.00 to $55.00, maintaining a 'buy' rating. In contrast, Stifel Nicolaus reduced their price target on INSW from $65.00 to $58.00 but still suggest a 'buy' rating for the stock. The consensus rating for INSW currently stands as 'Buy' with an average price target of $60.20, aggregating the views from five research analysts.

Market data indicates that INSW stock began trading at $47.60. The company boasts a market capitalization of $2.33 billion, a P/E ratio of 3.67, and a notably low beta of 0.09. Moving average metrics also highlight a fifty-day moving average price of $44.72 and a 200-day moving average price of $41.40. Price fluctuations for the past year have seen INSW hitting a low of $33.04 and reaching a peak price of $53.25. The company's financial health is depicted by a 0.43 debt-to-equity ratio, alongside a quick ratio of 2.26 and a current ratio of 2.53.

The last earnings report from International Seaways posted an EPS of $3.12 for the quarter, surpassing the consensus estimates by $0.42. Revenue figures for the same period reached $292.20 million, exceeding expectations by a notable margin. The net margin stood at an impressive 55.45%, with a return on equity reaching 39.60%. Analysts are projecting an earnings per share of 10.09 for the company's current fiscal year.

Recent Insider Transactions at INSW

Recent insider trading activity has been observed at International Seaways. Director Douglas D. Wheat sold 8,000 shares at an average price of $46.00, resulting in a transaction worth $368,000.00, leaving him with 29,902 shares valued at approximately $1,375,492. Another notable transaction occurred with CEO Lois K. Zabrocky, who sold 1,000 shares at an average price of $43.53, resulting in a sale valued at $43,530.00. Insiders have offloaded 13,500 shares in the last quarter totaling $613,395.

Institutional Investor Activity in INSW

A number of significant institutional investors have recently adjusted their stakes in INSW. New positions and increased investments from entities like Federated Hermes Inc., Point72 Asset Management L.P., Coppell Advisory Solutions Corp., Compagnie Lombard Odier SCmA, and Spire Wealth Management signify a strong interest from the institutional side. These investments solidify an institutional ownership of 63.08% in INSW.

Overview of International Seaways

International Seaways, Inc., based in New York, New York, conducts operations primarily in oceangoing transportation services. Their fleet is assigned to the transportation of crude oil and petroleum products in the international flag trade and operates under two segments: Crude Tankers and Product Carriers.

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