Pareto Securities Initiates Coverage on International Seaways (INSW)

Analysts at Pareto Securities initiated coverage on shares of International Seaways (NYSE:INSW) in a research note issued to investors on Tuesday. The brokerage set a “buy” rating on the transportation company’s stock.

Separately, Zacks Investment Research downgraded International Seaways from a “hold” rating to a “sell” rating in a research report on Tuesday.

Shares of International Seaways (NYSE:INSW) traded down $0.15 during midday trading on Tuesday, reaching $18.42. The company’s stock had a trading volume of 204,627 shares, compared to its average volume of 168,077. International Seaways has a 1-year low of $16.37 and a 1-year high of $23.43. The company has a market capitalization of $550.67 and a price-to-earnings ratio of -7.34. The company has a current ratio of 3.78, a quick ratio of 3.74 and a debt-to-equity ratio of 0.44.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, November 9th. The transportation company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.13). International Seaways had a negative net margin of 23.86% and a positive return on equity of 1.36%. equities research analysts anticipate that International Seaways will post -0.05 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of International Seaways by 14.2% during the second quarter. Vanguard Group Inc. now owns 1,812,662 shares of the transportation company’s stock worth $39,280,000 after acquiring an additional 224,894 shares in the last quarter. Numeric Investors LLC lifted its position in shares of International Seaways by 4.1% during the second quarter. Numeric Investors LLC now owns 901,309 shares of the transportation company’s stock worth $19,531,000 after acquiring an additional 35,500 shares in the last quarter. Donald Smith & CO. Inc. lifted its position in shares of International Seaways by 52.5% during the third quarter. Donald Smith & CO. Inc. now owns 847,222 shares of the transportation company’s stock worth $16,690,000 after acquiring an additional 291,656 shares in the last quarter. Frontier Capital Management Co. LLC purchased a new stake in shares of International Seaways in the third quarter worth $16,062,000. Finally, Dimensional Fund Advisors LP raised its position in shares of International Seaways by 59.0% in the third quarter. Dimensional Fund Advisors LP now owns 561,379 shares of the transportation company’s stock worth $11,059,000 after buying an additional 208,301 shares in the last quarter. Hedge funds and other institutional investors own 86.33% of the company’s stock.

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About International Seaways

International Seaways, Inc and its subsidiaries own and operate a fleet of oceangoing vessels. The Company’s oceangoing vessels engage in the transportation of crude oil and petroleum products in the International Flag trades. The Company’s segments are International Crude Tankers and International Product Carriers.

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