International Seaways (NYSE:INSW) Price Target Lowered to $26.00 at Jefferies Financial Group

International Seaways (NYSE:INSW) had its price objective cut by Jefferies Financial Group from $30.00 to $26.00 in a report issued on Friday morning, AR Network reports. They currently have a buy rating on the transportation company’s stock.

A number of other brokerages also recently issued reports on INSW. Zacks Investment Research downgraded International Seaways from a hold rating to a strong sell rating in a research note on Thursday, October 22nd. TheStreet upgraded International Seaways from a d+ rating to a c rating in a research note on Monday, August 24th. BTIG Research downgraded International Seaways from a buy rating to a neutral rating in a research note on Wednesday, October 21st. Finally, Stifel Nicolaus cut their price objective on International Seaways from $29.00 to $25.00 and set a buy rating for the company in a research note on Monday, October 19th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. International Seaways currently has an average rating of Hold and an average target price of $25.00.

International Seaways stock opened at $13.94 on Friday. The business has a 50-day simple moving average of $15.47 and a two-hundred day simple moving average of $18.61. The company has a market cap of $390.10 million, a P/E ratio of 3.96 and a beta of 0.06. International Seaways has a 52-week low of $12.92 and a 52-week high of $31.39. The company has a quick ratio of 1.84, a current ratio of 1.86 and a debt-to-equity ratio of 0.49.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Friday, August 7th. The transportation company reported $2.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.26 by $0.13. The business had revenue of $139.73 million during the quarter, compared to the consensus estimate of $145.55 million. International Seaways had a return on equity of 13.51% and a net margin of 22.19%. Research analysts anticipate that International Seaways will post 5.31 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nuveen Asset Management LLC lifted its holdings in International Seaways by 13.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 182,141 shares of the transportation company’s stock worth $2,976,000 after purchasing an additional 21,694 shares in the last quarter. Marshall Wace North America L.P. lifted its holdings in International Seaways by 97.2% in the 2nd quarter. Marshall Wace North America L.P. now owns 202,304 shares of the transportation company’s stock worth $3,306,000 after purchasing an additional 99,730 shares in the last quarter. Engineers Gate Manager LP purchased a new position in International Seaways in the 1st quarter worth approximately $306,000. Tower Research Capital LLC TRC raised its holdings in shares of International Seaways by 626.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,686 shares of the transportation company’s stock worth $40,000 after acquiring an additional 1,454 shares in the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of International Seaways by 117.4% during the 1st quarter. Two Sigma Advisers LP now owns 115,000 shares of the transportation company’s stock worth $2,747,000 after acquiring an additional 62,100 shares in the last quarter. 76.82% of the stock is currently 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 trade. It operates through two segments, Crude Tankers and Product Carriers. As of March 3, 2020, the company owned and operated a fleet of 42 vessels, including 13 very large crude carriers, 2 Suezmaxes, 5 Aframaxes/LR2s, 13 Panamaxes/LR1s, and 7 medium range tankers, as well as had ownership interests in two floating storage and offloading service vessels.

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Analyst Recommendations for International Seaways (NYSE:INSW)

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