Fearnley Fonds Upgrades International Seaways (NYSE:INSW) to “Strong-Buy”

International Seaways (NYSE:INSW) was upgraded by investment analysts at Fearnley Fonds to a “strong-buy” rating in a research note issued on Friday, Zacks.com reports.

A number of other research analysts also recently commented on the stock. Stifel Nicolaus upped their price objective on shares of International Seaways from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. StockNews.com lowered shares of International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $66.00 price objective on shares of International Seaways in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, International Seaways presently has a consensus rating of “Buy” and a consensus target price of $68.00.

International Seaways Stock Down 0.5 %

INSW opened at $51.56 on Friday. The firm has a market cap of $2.55 billion, a P/E ratio of 4.82 and a beta of -0.07. The business’s fifty day simple moving average is $51.22 and its 200 day simple moving average is $55.31. International Seaways has a 52 week low of $40.68 and a 52 week high of $65.94. 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 posted its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). International Seaways had a net margin of 50.70% and a return on equity of 26.55%. The firm had revenue of $257.40 million during the quarter, compared to analyst estimates of $256.13 million. During the same period in the prior year, the firm earned $3.12 EPS. The business’s quarterly revenue was down 11.9% on a year-over-year basis. As a group, equities research analysts anticipate that International Seaways will post 9.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Alexandra Kate Blankenship sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.17, for a total value of $245,850.00. Following the completion of the sale, the director now owns 16,109 shares of the company’s stock, valued at $792,079.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $55.97, for a total transaction of $55,970.00. Following the completion of the sale, the chief financial officer now directly owns 38,849 shares in the company, valued at $2,174,378.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alexandra Kate Blankenship sold 5,000 shares of International Seaways stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.17, for a total value of $245,850.00. Following the sale, the director now directly owns 16,109 shares in the company, valued at $792,079.53. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock worth $602,160 over the last ninety days. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of INSW. EverSource Wealth Advisors LLC acquired a new position in shares of International Seaways in the 1st quarter valued at approximately $27,000. EdgeRock Capital LLC bought a new stake in shares of International Seaways in the second quarter worth $28,000. Headlands Technologies LLC raised its holdings in International Seaways by 173.4% in the first quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock valued at $48,000 after acquiring an additional 574 shares in the last quarter. Quarry LP boosted its stake in International Seaways by 408.0% during the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock valued at $86,000 after acquiring an additional 1,167 shares during the last quarter. Finally, CWM LLC grew its holdings in International Seaways by 47.9% during the 2nd quarter. CWM LLC now owns 1,470 shares of the transportation company’s stock worth $87,000 after acquiring an additional 476 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

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.