International Seaways (NYSE:INSW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, Zacks.com reports. The firm presently has a $22.00 price target on the transportation company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 14.29% from the stock’s previous close.
According to Zacks, “International Seaways, Inc. is a tanker company. It provides energy transportation services for crude oil and petroleum products. The company owns and operates a fleet which includes ULCC, eight VLCCs, eight Aframaxes/LR2s, 12 Panamaxes/LR1s and 20 MR tankers. International Seaways, Inc. is headquartered in New York City. “
Separately, TheStreet upgraded International Seaways from a “d” rating to a “c-” rating in a research note on Wednesday, February 6th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $24.75.
Shares of NYSE INSW opened at $19.25 on Friday. The stock has a market capitalization of $562.08 million, a price-to-earnings ratio of -8.75 and a beta of 0.11. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.19 and a current ratio of 2.23. International Seaways has a twelve month low of $15.61 and a twelve month high of $24.78.
International Seaways (NYSE:INSW) last announced its earnings results on Tuesday, March 12th. The transportation company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.23. The business had revenue of $100.55 million for the quarter, compared to analyst estimates of $84.44 million. International Seaways had a negative return on equity of 6.23% and a negative net margin of 32.90%. Research analysts forecast that International Seaways will post 0.39 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc increased its stake in International Seaways by 21.1% in the 4th quarter. Legal & General Group Plc now owns 3,929 shares of the transportation company’s stock worth $67,000 after acquiring an additional 684 shares during the last quarter. United Services Automobile Association increased its position in shares of International Seaways by 19.4% during the 4th quarter. United Services Automobile Association now owns 12,700 shares of the transportation company’s stock valued at $214,000 after purchasing an additional 2,066 shares during the last quarter. California Public Employees Retirement System increased its position in shares of International Seaways by 39.4% during the 4th quarter. California Public Employees Retirement System now owns 23,055 shares of the transportation company’s stock valued at $388,000 after purchasing an additional 6,520 shares during the last quarter. Rhumbline Advisers increased its position in shares of International Seaways by 41.5% during the 4th quarter. Rhumbline Advisers now owns 31,479 shares of the transportation company’s stock valued at $530,000 after purchasing an additional 9,228 shares during the last quarter. Finally, Richard Bernstein Advisors LLC bought a new position in shares of International Seaways during the 4th quarter valued at about $631,000. Institutional investors and hedge funds own 83.40% 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 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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