International Seaways (NYSE:INSW) Given New $60.00 Price Target at Jefferies Financial Group

International Seaways (NYSE:INSW) had its price objective reduced by Jefferies Financial Group from $66.00 to $60.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Jefferies Financial Group’s price target indicates a potential upside of 40.61% from the company’s previous close.

Several other research analysts also recently issued reports on INSW. Stifel Nicolaus downgraded International Seaways from a “buy” rating to a “hold” rating and cut their price target for the stock from $69.00 to $56.00 in a research note on Wednesday, October 23rd. StockNews.com lowered shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Two equities research 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $60.67.

International Seaways Price Performance

Shares of NYSE INSW traded up $0.18 during trading on Thursday, hitting $42.67. 211,912 shares of the company were exchanged, compared to its average volume of 579,484. The firm’s fifty day moving average price is $48.51 and its 200 day moving average price is $54.04. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.87. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 4.12 and a beta of -0.06. International Seaways has a 1 year low of $41.50 and a 1 year high of $65.94.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.15. The company had revenue of $225.20 million during the quarter, compared to the consensus estimate of $208.75 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period last year, the firm earned $1.99 EPS. On average, sell-side analysts expect that International Seaways will post 7.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $43.05, for a total transaction of $43,050.00. Following the completion of the transaction, the senior vice president now owns 51,803 shares of the company’s stock, valued at $2,230,119.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $43.05, for a total value of $43,050.00. Following the transaction, the senior vice president now owns 51,803 shares of the company’s stock, valued at approximately $2,230,119.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the company’s 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 sale, the director now directly owns 16,109 shares of the company’s stock, valued at approximately $792,079.53. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 13,000 shares of company stock valued at $640,120. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On International Seaways

Institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC purchased a new position in shares of International Seaways in the first quarter valued at $27,000. EdgeRock Capital LLC purchased a new stake in shares of International Seaways during the second quarter worth about $28,000. Blue Trust Inc. acquired a new position in shares of International Seaways in the third quarter worth about $41,000. Headlands Technologies LLC boosted 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 purchasing an additional 574 shares during the last quarter. Finally, KBC Group NV grew its stake in International Seaways by 65.2% during the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after purchasing 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.