International Seaways (INSW) Now Covered by Pareto Securities

Pareto Securities initiated coverage on shares of International Seaways (NYSE:INSW) in a report issued on Tuesday morning, The Fly reports. The firm issued a buy rating on the transportation company’s stock.

Separately, Zacks Investment Research cut shares of International Seaways from a hold rating to a strong sell rating in a research note on Friday, October 20th.

International Seaways (INSW) traded up $0.23 during mid-day trading on Tuesday, hitting $18.93. 284,300 shares of the stock were exchanged, compared to its average volume of 157,840. International Seaways has a 52 week low of $15.90 and a 52 week high of $23.43. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.74 and a current ratio of 3.78. The firm has a market cap of $543.98 and a P/E ratio of -7.54.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Thursday, November 9th. The transportation company reported ($0.46) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.13). International Seaways had a negative net margin of 23.86% and a positive return on equity of 1.36%. equities research analysts expect that International Seaways will post -0.05 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc increased its stake in shares of International Seaways by 61.7% during the 2nd quarter. Legal & General Group Plc now owns 6,350 shares of the transportation company’s stock worth $138,000 after purchasing an additional 2,424 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of International Seaways by 20.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 35,965 shares of the transportation company’s stock worth $779,000 after purchasing an additional 6,019 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of International Seaways by 44.2% during the 3rd quarter. Wells Fargo & Company MN now owns 32,463 shares of the transportation company’s stock worth $639,000 after purchasing an additional 9,945 shares in the last quarter. Macquarie Group Ltd. purchased a new position in shares of International Seaways during the 3rd quarter worth approximately $199,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of International Seaways by 93.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,930 shares of the transportation company’s stock worth $497,000 after purchasing an additional 11,054 shares in the last quarter. 86.33% of the stock is owned by institutional investors and hedge funds.

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International Seaways Company Profile

International Seaways, Inc and its subsidiaries own and operate a fleet of oceangoing vessels. The Company’s oceangoing vessels engage in the transportation of crude oil and petroleum products in the International Flag trades. The Company’s segments are International Crude Tankers and International Product Carriers.

The Fly

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