International Seaways (NYSE:INSW) Rating Lowered to Hold at Zacks Investment Research

International Seaways (NYSE:INSW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “International Seaways, Inc. is a tanker company. It provides energy transportation services for crude oil and petroleum products. The company owns and operates a fleet which includes ULCC, eight VLCCs, eight Aframaxes/LR2s, 12 Panamaxes/LR1s and 20 MR tankers. International Seaways, Inc. is headquartered in New York City. “

Other equities analysts have also recently issued reports about the company. B. Riley boosted their price target on International Seaways from $21.50 to $27.25 and gave the stock a “neutral” rating in a report on Thursday, October 24th. BTIG Research started coverage on International Seaways in a report on Friday, October 11th. They issued a “buy” rating and a $30.00 price target for the company. Finally, ValuEngine cut International Seaways from a “hold” rating to a “sell” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $28.56.

Shares of INSW stock opened at $25.13 on Thursday. The stock has a fifty day moving average price of $23.74 and a 200 day moving average price of $19.43. The stock has a market cap of $742.39 million, a PE ratio of -11.42 and a beta of 0.28. International Seaways has a 1 year low of $15.15 and a 1 year high of $27.01. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.57 and a current ratio of 1.60.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in shares of International Seaways by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 111,578 shares of the transportation company’s stock worth $2,120,000 after acquiring an additional 654 shares during the last quarter. Founders Capital Management raised its holdings in shares of International Seaways by 100.0% in the third quarter. Founders Capital Management now owns 2,000 shares of the transportation company’s stock worth $38,000 after acquiring an additional 1,000 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of International Seaways by 21.1% in the second quarter. SG Americas Securities LLC now owns 7,235 shares of the transportation company’s stock worth $137,000 after acquiring an additional 1,260 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of International Seaways by 0.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 297,725 shares of the transportation company’s stock worth $5,657,000 after acquiring an additional 1,989 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of International Seaways by 30,442.9% in the second quarter. Bank of Montreal Can now owns 2,138 shares of the transportation company’s stock worth $40,000 after acquiring an additional 2,131 shares during the last quarter. 77.94% 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 trades. It operates through two segments, Crude Tankers and Product Carriers. As of December 31, 2018, the company owned and operated a fleet of 48 vessels, including 13 very large crude carriers, 2 Suezmaxes, 6 Aframaxes, 11 Panamaxes, and 10 medium range tankers.

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