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 note released on Wednesday, Zacks.com reports. They currently have $21.00 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. “

Shares of NYSE 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. The business has a fifty 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 has a one year low of $15.61 and a one year high of $22.50.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, May 9th. The transportation company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. The company had revenue of $101.87 million during 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 predict that International Seaways will post 0.19 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc increased its holdings in International Seaways by 21.1% in the 4th 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 in the last quarter. United Services Automobile Association increased its holdings in International Seaways by 19.4% in the 4th 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 in the last quarter. BNP Paribas Arbitrage SA increased its holdings in International Seaways by 89.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,058 shares of the transportation company’s stock worth $87,000 after acquiring an additional 2,395 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in International Seaways by 3.6% in the 4th quarter. Bank of New York Mellon Corp now owns 109,638 shares of the transportation company’s stock worth $1,846,000 after acquiring an additional 3,760 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in International Seaways in the 1st quarter worth $102,000. 77.34% of the stock is owned by 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 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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