International Seaways’ (INSW) “Buy” Rating Reaffirmed at Jefferies Financial Group

Jefferies Financial Group reaffirmed their buy rating on shares of International Seaways (NYSE:INSW) in a research note released on Thursday morning,Benzinga reports. Jefferies Financial Group currently has a $58.00 target price on the transportation company’s stock.

Separately, SEB Equity Research set a $50.00 price target on International Seaways in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given 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 $57.50.

International Seaways Stock Down 7.2 %

Shares of NYSE INSW opened at $33.83 on Thursday. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $37.68 and a 200 day moving average of $43.23. International Seaways has a 12-month low of $32.11 and a 12-month high of $65.94. The stock has a market cap of $1.66 billion, a PE ratio of 3.27 and a beta of -0.11.

Insider Buying and Selling at International Seaways

In other news, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $39.10, for a total transaction of $39,100.00. Following the completion of the sale, the senior vice president now owns 48,803 shares in the company, valued at $1,908,197.30. This trade represents a 2.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in shares of International Seaways by 221.0% in the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock valued at $31,050,000 after purchasing an additional 414,610 shares during the last quarter. Bridgeway Capital Management LLC purchased a new stake in International Seaways in the 4th quarter valued at about $14,269,000. Vanguard Group Inc. lifted its position in International Seaways by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company’s stock valued at $171,043,000 after buying an additional 369,145 shares during the last quarter. Clearbridge Investments LLC purchased a new position in International Seaways during the fourth quarter worth about $11,374,000. Finally, Empowered Funds LLC increased its position in shares of International Seaways by 470.8% during the fourth quarter. Empowered Funds LLC now owns 273,032 shares of the transportation company’s stock valued at $9,813,000 after acquiring an additional 225,196 shares during the last quarter. 67.29% of the stock is currently 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.