Jefferies Financial Group Reaffirms “Buy” Rating for International Seaways (NYSE:INSW)

International Seaways (NYSE:INSW)‘s stock had its “buy” rating reiterated by investment analysts at Jefferies Financial Group in a report issued on Thursday,Benzinga reports. They presently have a $58.00 price objective on the transportation company’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 74.25% from the company’s current price.

Separately, SEB Equity Research set a $50.00 price objective on shares of International Seaways in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, International Seaways currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.50.

International Seaways Trading Down 1.4 %

NYSE:INSW opened at $33.29 on Thursday. The firm has a 50-day simple moving average of $37.70 and a 200-day simple moving average of $43.17. International Seaways has a one year low of $32.11 and a one year high of $65.94. The firm has a market cap of $1.64 billion, a P/E ratio of 3.22 and a beta of -0.11. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60.

Insider Transactions at International Seaways

In other International Seaways 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 value of $39,100.00. Following the completion of the sale, the senior vice president now directly owns 48,803 shares in the company, valued at $1,908,197.30. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On International Seaways

A number of large investors have recently made changes to their positions in the business. Banque Transatlantique SA purchased a new position in International Seaways during the 4th quarter worth $29,000. Blue Trust Inc. purchased a new stake in shares of International Seaways during the third quarter worth about $41,000. Sunbelt Securities Inc. purchased a new stake in shares of International Seaways during the third quarter worth about $52,000. Larson Financial Group LLC acquired a new position in shares of International Seaways during the fourth quarter valued at about $37,000. Finally, KBC Group NV raised its position in shares of International Seaways by 65.2% in the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 428 shares during the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

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.