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

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

Other analysts have also issued reports about the company. Jefferies Financial Group reissued a “buy” rating and issued a $66.00 price objective on shares of International Seaways in a report on Wednesday, August 7th. StockNews.com cut shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Stifel Nicolaus increased their price target on International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $68.00.

International Seaways Stock Performance

Shares of NYSE:INSW opened at $51.56 on Friday. The company has a quick ratio of 3.87, a current ratio of 3.89 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 4.82 and a beta of -0.07. The firm has a 50 day moving average of $51.22 and a 200 day moving average of $55.31. International Seaways has a 52 week low of $40.68 and a 52 week high of $65.94.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.37 EPS 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 business had revenue of $257.40 million during the quarter, compared to analysts’ expectations of $256.13 million. During the same quarter last year, the business posted $3.12 earnings per share. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. On average, sell-side analysts predict that International Seaways will post 9.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Alexandra Kate Blankenship sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were 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 in the company, valued at $792,079.53. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Alexandra Kate Blankenship sold 5,000 shares of International Seaways stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.17, for a total transaction of $245,850.00. Following the completion of the transaction, the director now owns 16,109 shares of the company’s stock, valued at approximately $792,079.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $51.19, for a total value of $51,190.00. Following the completion of the sale, the senior vice president now directly owns 53,803 shares in the company, valued at approximately $2,754,175.57. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,000 shares of company stock valued at $602,160. 1.90% of the stock is owned by company insiders.

Institutional Trading of International Seaways

A number of institutional investors have recently modified their holdings of the company. EdgeRock Capital LLC purchased a new position in International Seaways in the second quarter valued at about $28,000. EverSource Wealth Advisors LLC purchased a new stake in shares of International Seaways during the 1st quarter valued at about $27,000. Headlands Technologies LLC lifted its position in International Seaways by 173.4% during the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after acquiring an additional 574 shares in the last quarter. Quarry LP boosted its holdings in International Seaways by 408.0% in the 2nd 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. Finally, CWM LLC grew its position in International Seaways by 47.9% in the second quarter. CWM LLC now owns 1,470 shares of the transportation company’s stock valued at $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.

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.