International Seaways (NYSE:INSW) Receives Buy Rating from Jefferies Financial Group

International Seaways (NYSE:INSW)‘s stock had its “buy” rating reiterated by stock analysts at Jefferies Financial Group in a research note issued on Thursday,Benzinga reports. They currently have a $58.00 price target on the transportation company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 69.39% from the stock’s previous close.

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

International Seaways Trading Down 6.1 %

Shares of INSW traded down $2.23 during trading hours on Thursday, hitting $34.24. 794,111 shares of the stock were exchanged, compared to its average volume of 890,660. The business has a 50-day moving average of $37.68 and a 200-day moving average of $43.23. International Seaways has a fifty-two week low of $32.11 and a fifty-two week high of $65.94. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The firm has a market capitalization of $1.68 billion, a P/E ratio of 3.28 and a beta of -0.11.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Thursday, February 27th. The transportation company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.81). International Seaways had a return on equity of 24.65% and a net margin of 50.91%. On average, research analysts expect that International Seaways will post 7.77 EPS for the current year.

Insiders Place Their Bets

In other news, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $35.07, for a total value of $35,070.00. Following the completion of the transaction, the senior vice president now owns 49,803 shares of the company’s stock, valued at $1,746,591.21. The trade was a 1.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 3,000 shares of company stock valued at $113,710 in the last quarter. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On International Seaways

Institutional investors and hedge funds have recently modified their holdings of the business. Banque Transatlantique SA purchased a new position in shares of International Seaways during the 4th quarter valued at approximately $29,000. Blue Trust Inc. purchased a new position in International Seaways in the 3rd quarter valued at about $41,000. Sunbelt Securities Inc. purchased a new stake in International Seaways during the 3rd quarter valued at about $52,000. Larson Financial Group LLC purchased a new position in International Seaways during the 4th quarter valued at about $37,000. Finally, KBC Group NV grew its position in shares of International Seaways by 65.2% during the third quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock worth $56,000 after buying an additional 428 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.