A number of other research analysts have also weighed in on the company. Zacks Investment Research lowered International Seaways from a buy rating to a hold rating in a research note on Thursday, October 10th. BTIG Research started coverage on International Seaways in a research note on Friday, October 11th. They set a buy rating and a $30.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $27.25.
INSW stock traded up $0.37 on Friday, reaching $26.36. The company had a trading volume of 275,622 shares, compared to its average volume of 186,781. International Seaways has a 1 year low of $15.15 and a 1 year high of $27.67. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.57 and a current ratio of 1.60. The company’s fifty day moving average is $25.82 and its 200 day moving average is $20.19. The company has a market cap of $760.73 million, a P/E ratio of -11.98 and a beta of 0.30.
International Seaways (NYSE:INSW) last posted its earnings results on Thursday, November 7th. The transportation company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.03). International Seaways had a negative net margin of 2.85% and a negative return on equity of 0.69%. The company had revenue of $71.28 million during the quarter, compared to analysts’ expectations of $72.42 million. On average, sell-side analysts predict that International Seaways will post 0.74 earnings per share for the current year.
In related news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $26.44, for a total value of $26,440.00. Following the transaction, the chief financial officer now directly owns 11,992 shares of the company’s stock, valued at approximately $317,068.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Randee E. Day sold 5,300 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $26.05, for a total value of $138,065.00. Following the completion of the transaction, the director now directly owns 8,261 shares in the company, valued at $215,199.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,300 shares of company stock worth $183,995. Corporate insiders own 1.60% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of INSW. Donald Smith & CO. Inc. raised its position in shares of International Seaways by 18.4% in the 3rd quarter. Donald Smith & CO. Inc. now owns 2,604,359 shares of the transportation company’s stock worth $50,160,000 after buying an additional 404,977 shares during the period. BlackRock Inc. raised its position in shares of International Seaways by 15.3% in the 2nd quarter. BlackRock Inc. now owns 1,818,598 shares of the transportation company’s stock worth $34,553,000 after buying an additional 241,547 shares during the period. Citadel Advisors LLC raised its position in shares of International Seaways by 323.7% in the 2nd quarter. Citadel Advisors LLC now owns 264,308 shares of the transportation company’s stock worth $5,022,000 after buying an additional 201,928 shares during the period. Carlson Capital L P raised its position in shares of International Seaways by 44.6% in the 2nd quarter. Carlson Capital L P now owns 474,067 shares of the transportation company’s stock worth $9,007,000 after buying an additional 146,300 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of International Seaways by 1,001.0% in the 2nd quarter. Renaissance Technologies LLC now owns 115,600 shares of the transportation company’s stock worth $2,196,000 after buying an additional 105,100 shares during the period. 77.02% of the stock is currently owned by institutional investors and hedge funds.
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 December 31, 2018, the company owned and operated a fleet of 48 vessels, including 13 very large crude carriers, 2 Suezmaxes, 6 Aframaxes, 11 Panamaxes, and 10 medium range tankers.
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