Jefferies Financial Group Reiterates Buy Rating for International Seaways (NYSE:INSW)

Jefferies Financial Group reiterated their buy rating on shares of International Seaways (NYSE:INSW) in a report released on Thursday morning,Benzinga reports. They currently have a $58.00 price objective on the transportation company’s stock.

Separately, SEB Equity Research set a $50.00 target price on shares of International Seaways in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.50.

International Seaways Price Performance

INSW opened at $33.83 on Thursday. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 3.27 and a beta of -0.11. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. The stock’s 50-day moving average price is $37.68 and its 200 day moving average price is $43.23. International Seaways has a 12-month low of $32.11 and a 12-month high of $65.94.

Insider Buying and Selling

In related news, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $39.10, for a total value of $39,100.00. Following the sale, the senior vice president now owns 48,803 shares in the company, valued at $1,908,197.30. This represents a 2.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On International Seaways

A number of large investors have recently bought and sold shares of the stock. FMR LLC increased its holdings in shares of International Seaways by 221.0% during the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock worth $31,050,000 after buying an additional 414,610 shares during the last quarter. Bridgeway Capital Management LLC purchased a new stake in International Seaways during the fourth quarter valued at about $14,269,000. Vanguard Group Inc. increased its stake in International Seaways by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company’s stock worth $171,043,000 after acquiring an additional 369,145 shares during the last quarter. Clearbridge Investments LLC acquired a new position in International Seaways during the fourth quarter valued at approximately $11,374,000. Finally, Empowered Funds LLC boosted its holdings in International Seaways by 470.8% in the 4th quarter. Empowered Funds LLC now owns 273,032 shares of the transportation company’s stock worth $9,813,000 after acquiring an additional 225,196 shares during the period. Institutional investors and hedge funds 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.