International Seaways (INSW) Stock Rating Upgraded by 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 report published on Saturday, Zacks.com reports. They currently have $22.00 price target 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. “

Separately, TheStreet upgraded International Seaways from a d rating to a c- rating in a research note on Wednesday, February 6th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $24.75.

INSW opened at $19.25 on Friday. International Seaways has a 1 year low of $15.61 and a 1 year high of $24.78. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.19 and a current ratio of 2.23.

International Seaways (NYSE:INSW) last posted its earnings results on Tuesday, March 12th. The transportation company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.23. International Seaways had a negative return on equity of 6.23% and a negative net margin of 32.90%. The company had revenue of $100.55 million for the quarter, compared to analyst estimates of $84.44 million. Equities research analysts predict that International Seaways will post 0.39 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. Legal & General Group Plc grew its stake in shares of International Seaways by 21.1% during the fourth quarter. Legal & General Group Plc now owns 3,929 shares of the transportation company’s stock worth $67,000 after acquiring an additional 684 shares during the last quarter. United Services Automobile Association grew its stake in shares of International Seaways by 19.4% during the fourth quarter. United Services Automobile Association now owns 12,700 shares of the transportation company’s stock worth $214,000 after acquiring an additional 2,066 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of International Seaways by 39.4% during the fourth quarter. California Public Employees Retirement System now owns 23,055 shares of the transportation company’s stock worth $388,000 after acquiring an additional 6,520 shares during the last quarter. Rhumbline Advisers grew its stake in shares of International Seaways by 41.5% during the fourth quarter. Rhumbline Advisers now owns 31,479 shares of the transportation company’s stock worth $530,000 after acquiring an additional 9,228 shares during the last quarter. Finally, Richard Bernstein Advisors LLC purchased a new stake in shares of International Seaways during the fourth quarter worth about $631,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

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 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.

Featured Story: What is channel trading?

Get a free copy of the Zacks research report on International Seaways (INSW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for International Seaways Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Seaways and related companies with MarketBeat.com's FREE daily email newsletter.