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

International Seaways (NYSE:INSW) had its price objective cut by equities research analysts at Jefferies Financial Group from $66.00 to $60.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Jefferies Financial Group’s price objective points to a potential upside of 45.47% from the company’s previous close.

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

International Seaways Stock Performance

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

International Seaways (NYSE:INSW) last released its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.15. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The firm had revenue of $225.20 million during the quarter, compared to analysts’ expectations of $208.75 million. During the same period in the prior year, the company earned $1.99 earnings per share. The company’s quarterly revenue was down 6.8% on a year-over-year basis. Sell-side analysts expect that International Seaways will post 7.93 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $51.19, for a total transaction of $51,190.00. Following the completion of the sale, the senior vice president now owns 53,803 shares in the company, valued at $2,754,175.57. This trade represents a 1.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.17, for a total value of $245,850.00. Following the completion of the sale, the director now owns 16,109 shares in the company, valued at approximately $792,079.53. The trade was a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,000 shares of company stock worth $640,120. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On International Seaways

Institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank grew its position in shares of International Seaways by 7.3% in the first quarter. Swiss National Bank now owns 72,400 shares of the transportation company’s stock valued at $3,852,000 after purchasing an additional 4,900 shares in the last quarter. Headlands Technologies LLC raised its position in International Seaways by 173.4% during the first quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock valued at $48,000 after purchasing an additional 574 shares in the last quarter. Russell Investments Group Ltd. lifted its position in International Seaways by 74.0% in the 1st quarter. Russell Investments Group Ltd. now owns 241,526 shares of the transportation company’s stock worth $12,849,000 after buying an additional 102,724 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of International Seaways by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 7,303 shares of the transportation company’s stock worth $389,000 after acquiring an additional 574 shares during the last quarter. Finally, Entropy Technologies LP raised its position in International Seaways by 109.7% in the 1st quarter. Entropy Technologies LP now owns 15,288 shares of the transportation company’s stock worth $813,000 after purchasing an additional 7,998 shares during the period. 67.29% of the stock is owned by hedge funds and other institutional investors.

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 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.