Jefferies Financial Group Issues Pessimistic Forecast for International Seaways (NYSE:INSW) Stock Price

International Seaways (NYSE:INSW) had its target price decreased by investment analysts at Jefferies Financial Group from $66.00 to $60.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 45.47% from the stock’s current price.

Several other equities research analysts have also recently weighed in on INSW. Stifel Nicolaus cut International Seaways from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $69.00 to $56.00 in a report on Wednesday, October 23rd. Fearnley Fonds raised International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Finally, StockNews.com cut shares of International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, International Seaways has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

International Seaways Trading Down 3.3 %

NYSE:INSW opened at $41.25 on Thursday. The firm has a market capitalization of $2.03 billion, a P/E ratio of 3.99 and a beta of -0.06. The company has a quick ratio of 3.87, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average of $48.20 and a 200 day moving average of $53.87. International Seaways has a 52 week low of $41.22 and a 52 week high of $65.94.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.42 by $0.15. The firm had revenue of $225.20 million during the quarter, compared to the consensus estimate of $208.75 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.99 earnings per share. On average, research analysts predict that International Seaways will post 7.93 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Alexandra Kate Blankenship sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.17, for a total transaction of $245,850.00. Following the sale, the director now owns 16,109 shares of the company’s stock, valued at $792,079.53. The trade was a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $50.30, for a total transaction of $100,600.00. Following the completion of the sale, the chief executive officer now owns 155,475 shares in the company, valued at approximately $7,820,392.50. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,000 shares of company stock valued at $640,120 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On International Seaways

A number of institutional investors have recently modified their holdings of INSW. Barclays PLC increased its stake in International Seaways by 206.3% during the 3rd quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock valued at $13,374,000 after purchasing an additional 174,695 shares in the last quarter. MML Investors Services LLC increased its position in International Seaways by 24.1% during the third quarter. MML Investors Services LLC now owns 4,970 shares of the transportation company’s stock valued at $256,000 after acquiring an additional 966 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of International Seaways by 37.8% in the 3rd quarter. Stifel Financial Corp now owns 9,583 shares of the transportation company’s stock worth $494,000 after purchasing an additional 2,627 shares during the period. Janus Henderson Group PLC boosted its stake in shares of International Seaways by 51.3% during the 3rd quarter. Janus Henderson Group PLC now owns 60,107 shares of the transportation company’s stock worth $3,098,000 after acquiring an additional 20,372 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC bought a new stake in International Seaways during the third quarter valued at about $6,168,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

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 trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.