International Seaways (INSW) Coverage Initiated by Analysts at B. Riley

B. Riley initiated coverage on shares of International Seaways (NYSE:INSW) in a research report released on Friday, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $21.50 price target on the transportation company’s stock.

A number of other equities analysts also recently issued reports on INSW. Zacks Investment Research downgraded International Seaways from a hold rating to a sell rating in a research report on Wednesday, October 24th. Jefferies Financial Group assumed coverage on International Seaways in a research report on Monday, October 1st. They set a buy rating and a $30.00 price target on the stock. Finally, Stifel Nicolaus assumed coverage on International Seaways in a research report on Tuesday, September 25th. They set a buy rating and a $25.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $26.38.

NYSE:INSW traded down $1.02 during trading hours on Friday, reaching $17.79. The company’s stock had a trading volume of 211,992 shares, compared to its average volume of 131,002. The company has a market capitalization of $572.29 million, a price-to-earnings ratio of -61.34 and a beta of -0.80. The company has a quick ratio of 1.94, a current ratio of 1.99 and a debt-to-equity ratio of 0.75. International Seaways has a 12 month low of $15.23 and a 12 month high of $24.78.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Wednesday, November 7th. The transportation company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.30). The business had revenue of $60.93 million for the quarter, compared to analyst estimates of $54.59 million. International Seaways had a negative return on equity of 7.81% and a negative net margin of 78.00%. On average, sell-side analysts expect that International Seaways will post -2.23 EPS for the current year.

In related news, Director Randee E. Day sold 4,000 shares of the company’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $20.95, for a total value of $83,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bluemountain Capital Managemen sold 207,015 shares of the company’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $20.87, for a total value of $4,320,403.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,460,933 shares of company stock worth $51,043,973. Insiders own 0.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement Association of Colorado acquired a new position in shares of International Seaways in the 3rd quarter valued at $188,000. United Services Automobile Association acquired a new position in shares of International Seaways in the 2nd quarter valued at $225,000. Leisure Capital Management acquired a new position in shares of International Seaways in the 2nd quarter valued at $240,000. California Public Employees Retirement System acquired a new position in shares of International Seaways in the 1st quarter valued at $235,000. Finally, Russell Investments Group Ltd. increased its position in shares of International Seaways by 123.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 15,918 shares of the transportation company’s stock valued at $319,000 after acquiring an additional 8,800 shares during the period. 85.42% 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 trades. It operates through two segments, Crude Tankers and Product Carriers. As of June 14, 2018, the company owned and operated a fleet of 55 vessels, including 1 ultra large crude carrier, 14 very large crude carriers, 2 Suezmaxes, 7 Aframaxes, 12 Panamaxes, and 13 medium range tankers.

Further Reading: Cost of Debt

Analyst Recommendations for International Seaways (NYSE:INSW)

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