International Seaways (NYSE:INSW) Rating Lowered to Hold at Stifel Nicolaus

International Seaways (NYSE:INSW) was downgraded by equities researchers at Stifel Nicolaus from a “buy” rating to a “hold” rating in a report issued on Wednesday, MarketBeat Ratings reports. They currently have a $56.00 price target on the transportation company’s stock, down from their prior price target of $69.00. Stifel Nicolaus’ target price would suggest a potential upside of 24.36% from the company’s previous close.

A number of other research analysts also recently commented on the company. StockNews.com downgraded International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $66.00 price target on shares of International Seaways in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.67.

International Seaways Stock Performance

Shares of NYSE:INSW opened at $45.03 on Wednesday. International Seaways has a 12-month low of $42.08 and a 12-month high of $65.94. The company’s 50 day moving average price is $50.50 and its two-hundred day moving average price is $54.95. The firm has a market cap of $2.22 billion, a PE ratio of 4.21 and a beta of -0.08. 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) last issued its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). The company had revenue of $257.40 million for the quarter, compared to analyst estimates of $256.13 million. International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.12 EPS. Equities research analysts predict that International Seaways will post 9.51 earnings per share for the current year.

Insider Buying and Selling at International Seaways

In other news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $55.97, for a total value of $55,970.00. Following the completion of the transaction, the chief financial officer now owns 38,849 shares of the company’s stock, valued at approximately $2,174,378.53. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $55.97, for a total transaction of $55,970.00. Following the completion of the transaction, the chief financial officer now directly owns 38,849 shares in the company, valued at approximately $2,174,378.53. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $49.22, for a total value of $98,440.00. Following the completion of the transaction, the chief executive officer now owns 153,475 shares of the company’s stock, valued at $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 worth $751,840 over the last 90 days. Insiders own 1.90% of the company’s stock.

Institutional Trading of International Seaways

Several hedge funds and other institutional investors have recently made changes to their positions in INSW. EdgeRock Capital LLC acquired a new position in shares of International Seaways during the second quarter worth $28,000. EverSource Wealth Advisors LLC bought a new stake in shares of International Seaways in the 1st quarter valued at about $27,000. Blue Trust Inc. acquired a new stake in shares of International Seaways in the third quarter valued at about $41,000. Headlands Technologies LLC raised its position in shares of International Seaways by 173.4% during the first quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after acquiring an additional 574 shares during the last quarter. Finally, Quarry LP lifted its stake in shares of International Seaways by 408.0% in the second quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock worth $86,000 after acquiring an additional 1,167 shares during the period. 67.29% of the stock is currently owned by institutional investors.

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.