International Seaways Inc (INSW) Given Consensus Recommendation of “Buy” by Analysts

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International Seaways Inc (NYSE:INSW) has been given an average recommendation of “Buy” by the six ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $28.00.

Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of International Seaways from a “sell” rating to a “hold” rating in a research note on Wednesday, October 10th. Jefferies Financial Group initiated coverage on shares of International Seaways in a research note on Monday, October 1st. They issued a “buy” rating and a $30.00 target price for the company. Finally, Stifel Nicolaus initiated coverage on shares of International Seaways in a research note on Tuesday, September 25th. They issued a “buy” rating and a $25.00 target price for the company.

In other news, major shareholder Paulson & Co. Inc. sold 125,000 shares of the company’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $18.15, for a total value of $2,268,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Randee E. Day sold 2,000 shares of the company’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $18.46, for a total transaction of $36,920.00. The disclosure for this sale can be found here. Insiders sold 2,460,933 shares of company stock valued at $51,043,973 over the last 90 days. Insiders own 0.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in INSW. Frontier Capital Management Co. LLC boosted its stake in shares of International Seaways by 49.8% in the second quarter. Frontier Capital Management Co. LLC now owns 1,288,592 shares of the transportation company’s stock valued at $29,818,000 after purchasing an additional 428,321 shares during the period. Dimensional Fund Advisors LP boosted its stake in International Seaways by 32.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,030,466 shares of the transportation company’s stock valued at $18,136,000 after acquiring an additional 250,173 shares during the last quarter. Bienville Capital Management LLC bought a new position in International Seaways during the 2nd quarter valued at $1,391,000. Millennium Management LLC bought a new position in International Seaways during the 2nd quarter valued at $1,160,000. Finally, Paloma Partners Management Co bought a new position in International Seaways during the 2nd quarter valued at $956,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

INSW opened at $21.75 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.94 and a current ratio of 1.99. International Seaways has a 52-week low of $15.23 and a 52-week high of $24.78.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Wednesday, August 8th. The transportation company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.09). International Seaways had a negative return on equity of 6.07% and a negative net margin of 67.42%. The business had revenue of $56.91 million for the quarter, compared to analysts’ expectations of $46.74 million. Analysts forecast that International Seaways will post -2.41 EPS for the current year.

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 June 14, 2018, the company owned and operated a fleet of 55 vessels, including 1 ultra large crude carrier, 14 very large crude carriers, 2 Suezmaxes, 7 Aframaxes, 12 Panamaxes, and 13 medium range tankers.

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