Deutsche Bank Aktiengesellschaft Raises International Seaways (NYSE:INSW) Price Target to $66.00

International Seaways (NYSE:INSW) had its target price raised by equities researchers at Deutsche Bank Aktiengesellschaft from $62.00 to $66.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 5.99% from the stock’s previous close.

A number of other brokerages also recently commented on INSW. Stifel Nicolaus boosted their target price on International Seaways from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com downgraded International Seaways from a “buy” rating to a “hold” rating in a research note on Saturday, April 27th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $66.00 price objective on shares of International Seaways in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, International Seaways currently has an average rating of “Moderate Buy” and an average target price of $63.25.

International Seaways Stock Up 1.6 %

Shares of International Seaways stock traded up $0.98 on Thursday, hitting $62.27. 620,789 shares of the company’s stock traded hands, compared to its average volume of 554,026. The stock has a market cap of $3.05 billion, a P/E ratio of 5.55 and a beta of -0.05. The firm’s 50-day moving average is $53.52 and its 200 day moving average is $50.41. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.35. International Seaways has a 52-week low of $34.77 and a 52-week high of $62.62.

International Seaways (NYSE:INSW) last announced its earnings results on Wednesday, May 8th. The transportation company reported $2.92 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.54. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. The firm had revenue of $274.40 million for the quarter, compared to the consensus estimate of $249.12 million. During the same quarter in the previous year, the business earned $3.30 EPS. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. Equities analysts anticipate that International Seaways will post 9.33 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.09, for a total transaction of $53,090.00. Following the completion of the sale, the chief financial officer now directly owns 82,161 shares in the company, valued at approximately $4,361,927.49. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Lois K. Zabrocky sold 13,760 shares of International Seaways stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $52.87, for a total value of $727,491.20. Following the completion of the sale, the chief executive officer now owns 148,942 shares in the company, valued at approximately $7,874,563.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $53.09, for a total value of $53,090.00. Following the completion of the sale, the chief financial officer now directly owns 82,161 shares of the company’s stock, valued at approximately $4,361,927.49. The disclosure for this sale can be found here. Insiders sold 58,846 shares of company stock worth $3,074,618 over the last three months. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in INSW. Midwest Professional Planners LTD. bought a new position in shares of International Seaways during the 1st quarter worth $392,000. State Board of Administration of Florida Retirement System increased its stake in shares of International Seaways by 269.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 42,834 shares of the transportation company’s stock worth $2,279,000 after purchasing an additional 31,231 shares in the last quarter. Entropy Technologies LP raised its position in shares of International Seaways by 109.7% in the first quarter. Entropy Technologies LP now owns 15,288 shares of the transportation company’s stock valued at $813,000 after purchasing an additional 7,998 shares during the period. ProShare Advisors LLC lifted its stake in shares of International Seaways by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 7,303 shares of the transportation company’s stock valued at $389,000 after buying an additional 574 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings 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 period. 67.29% of the stock is owned by 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.