Brokerages Set International Seaways Inc (NYSE:INSW) PT at $29.08

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International Seaways Inc (NYSE:INSW) has earned a consensus recommendation of “Hold” from the six research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $29.08.

A number of equities research analysts have recently weighed in on the stock. B. Riley lifted their target price on shares of International Seaways from $21.50 to $27.25 and gave the company a “neutral” rating in a research note on Thursday, October 24th. BTIG Research assumed coverage on shares of International Seaways in a research note on Friday, October 11th. They set a “buy” rating and a $30.00 target price on the stock. ValuEngine lowered shares of International Seaways from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Zacks Investment Research lowered shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th.

A number of institutional investors have recently modified their holdings of the business. Donald Smith & CO. Inc. raised its holdings in International Seaways by 18.4% in the third quarter. Donald Smith & CO. Inc. now owns 2,604,359 shares of the transportation company’s stock worth $50,160,000 after buying an additional 404,977 shares during the last quarter. BlackRock Inc. raised its holdings in shares of International Seaways by 15.3% during the second quarter. BlackRock Inc. now owns 1,818,598 shares of the transportation company’s stock valued at $34,553,000 after purchasing an additional 241,547 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of International Seaways by 1.1% during the second quarter. Vanguard Group Inc. now owns 1,809,748 shares of the transportation company’s stock valued at $34,385,000 after purchasing an additional 19,567 shares during the last quarter. Carlson Capital L P raised its holdings in shares of International Seaways by 44.6% during the second quarter. Carlson Capital L P now owns 474,067 shares of the transportation company’s stock valued at $9,007,000 after purchasing an additional 146,300 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of International Seaways by 3.3% during the second quarter. Northern Trust Corp now owns 301,926 shares of the transportation company’s stock valued at $5,737,000 after purchasing an additional 9,659 shares during the last quarter. 76.54% of the stock is owned by institutional investors and hedge funds.

Shares of INSW opened at $23.40 on Tuesday. The firm’s 50-day moving average price is $23.11 and its 200-day moving average price is $19.29. The firm has a market capitalization of $739.03 million, a price-to-earnings ratio of -10.64 and a beta of 0.28. The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.76. International Seaways has a 1-year low of $15.15 and a 1-year high of $27.01.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, August 8th. The transportation company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.03. The firm had revenue of $69.01 million for the quarter, compared to analyst estimates of $71.97 million. International Seaways had a negative net margin of 13.98% and a negative return on equity of 2.49%. On average, research analysts forecast that International Seaways will post 3.5 EPS for the current fiscal 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 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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