International Seaways (NYSE:INSW) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday, ValuEngine reports.
A number of other brokerages have also commented on INSW. Zacks Investment Research lowered International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. BTIG Research initiated coverage on International Seaways in a report on Friday, October 11th. They set a “buy” rating and a $30.00 price objective on the stock. Finally, B. Riley increased their price objective on International Seaways from $21.50 to $27.25 and gave the company a “neutral” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $28.56.
Shares of NYSE INSW traded up $0.95 during mid-day trading on Friday, reaching $24.35. 250,774 shares of the company traded hands, compared to its average volume of 186,193. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.69 and a current ratio of 1.73. The stock has a market cap of $739.03 million, a PE ratio of -11.07 and a beta of 0.28. The company’s fifty day moving average is $23.23 and its two-hundred day moving average is $19.31. International Seaways has a fifty-two week low of $15.15 and a fifty-two week high of $27.01.
International Seaways (NYSE:INSW) last issued its quarterly earnings data on Thursday, August 8th. The transportation company reported ($0.51) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.54) by $0.03. The business had revenue of $69.01 million for the quarter, compared to analyst estimates of $71.97 million. International Seaways had a negative return on equity of 2.49% and a negative net margin of 13.98%. Research analysts forecast that International Seaways will post 3.5 earnings per share for the current year.
A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in International Seaways by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 111,578 shares of the transportation company’s stock valued at $2,120,000 after purchasing an additional 654 shares during the period. Founders Capital Management boosted its stake in International Seaways by 100.0% during the 3rd quarter. Founders Capital Management now owns 2,000 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 1,000 shares during the period. SG Americas Securities LLC boosted its stake in International Seaways by 21.1% during the 2nd quarter. SG Americas Securities LLC now owns 7,235 shares of the transportation company’s stock valued at $137,000 after purchasing an additional 1,260 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in International Seaways by 0.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 297,725 shares of the transportation company’s stock valued at $5,657,000 after purchasing an additional 1,989 shares during the period. Finally, Bank of Montreal Can boosted its stake in International Seaways by 30,442.9% during the 2nd quarter. Bank of Montreal Can now owns 2,138 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 2,131 shares during the period. Hedge funds and other institutional investors own 76.54% 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 trades. It operates through two segments, Crude Tankers and Product Carriers. As of December 31, 2018, the company owned and operated a fleet of 48 vessels, including 13 very large crude carriers, 2 Suezmaxes, 6 Aframaxes, 11 Panamaxes, and 10 medium range tankers.
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