International Seaways (NYSE:INSW) PT Raised to $68.00 at Stifel Nicolaus

International Seaways (NYSE:INSW) had its price target lifted by equities researchers at Stifel Nicolaus from $66.00 to $68.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 13.50% from the company’s previous close.

INSW has been the topic of several other research reports. StockNews.com raised International Seaways from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft increased their price target on International Seaways from $62.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $66.00 target price on shares of International Seaways in a report on Thursday, February 29th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $63.75.

International Seaways Price Performance

NYSE:INSW opened at $59.91 on Thursday. The company has a quick ratio of 2.72, a current ratio of 2.73 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average price is $59.19 and its two-hundred day moving average price is $53.60. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 5.60 and a beta of -0.04. International Seaways has a 12-month low of $35.29 and a 12-month high of $65.94.

International Seaways (NYSE:INSW) last posted its earnings results on Wednesday, May 8th. The transportation company reported $2.92 EPS for the quarter, beating the consensus estimate of $2.38 by $0.54. International Seaways had a return on equity of 29.74% and a net margin of 49.88%. The company had revenue of $274.40 million for the quarter, compared to the consensus estimate of $249.12 million. During the same quarter in the prior year, the business earned $3.30 earnings per share. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, analysts anticipate that International Seaways will post 10.07 earnings per share for the current year.

Insider Activity

In other news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $53.39, for a total value of $53,390.00. Following the completion of the transaction, the chief financial officer now directly owns 69,010 shares in the company, valued at approximately $3,684,443.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO James D. Small III sold 7,500 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $55.20, for a total transaction of $414,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 55,138 shares of the company’s stock, valued at approximately $3,043,617.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $53.39, for a total value of $53,390.00. Following the transaction, the chief financial officer now directly owns 69,010 shares of the company’s stock, valued at $3,684,443.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,879 shares of company stock worth $4,336,583. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Swiss National Bank raised its position in shares of International Seaways by 0.4% in the 3rd quarter. Swiss National Bank now owns 75,200 shares of the transportation company’s stock worth $3,384,000 after acquiring an additional 300 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of International Seaways in the 1st quarter valued at about $27,000. Consolidated Portfolio Review Corp grew its stake in shares of International Seaways by 7.0% in the 4th quarter. Consolidated Portfolio Review Corp now owns 7,846 shares of the transportation company’s stock valued at $357,000 after buying an additional 516 shares during the period. Verity Asset Management Inc. grew its stake in shares of International Seaways by 6.3% in the 4th quarter. Verity Asset Management Inc. now owns 9,195 shares of the transportation company’s stock valued at $418,000 after buying an additional 549 shares during the period. Finally, Headlands Technologies LLC grew its stake in shares of International Seaways by 173.4% in the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock valued at $48,000 after buying an additional 574 shares during the period. 67.29% of the stock is owned by 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 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.