International Seaways (NYSE:INSW) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of International Seaways (NYSE:INSW) from a hold rating to a buy rating in a research report released on Wednesday, Zacks.com reports. They currently have $21.00 target price on the transportation company’s stock.

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. “

Shares of INSW opened at $19.46 on Wednesday. The stock has a market cap of $561.06 million, a price-to-earnings ratio of -8.85 and a beta of 0.20. International Seaways has a 12-month low of $15.61 and a 12-month high of $22.50. The firm has a 50-day moving average of $18.34. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.88 and a current ratio of 1.92.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Thursday, May 9th. The transportation company reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. The firm had revenue of $101.87 million for the quarter, compared to analyst estimates of $96.31 million. International Seaways had a negative net margin of 15.22% and a negative return on equity of 3.01%. As a group, research analysts anticipate that International Seaways will post 0.19 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Wace LLP purchased a new stake in International Seaways during the 1st quarter worth approximately $423,000. Hosking Partners LLP increased its holdings in International Seaways by 48.4% during the 1st quarter. Hosking Partners LLP now owns 403,947 shares of the transportation company’s stock worth $6,924,000 after purchasing an additional 131,744 shares during the last quarter. SG Americas Securities LLC purchased a new stake in International Seaways during the 1st quarter worth approximately $102,000. BNP Paribas Arbitrage SA increased its holdings in International Seaways by 89.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,058 shares of the transportation company’s stock worth $87,000 after purchasing an additional 2,395 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in International Seaways by 9.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,539,150 shares of the transportation company’s stock worth $25,919,000 after purchasing an additional 134,282 shares during the last quarter. Hedge funds and other institutional investors own 77.34% 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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