Cleaves Securities Keeps a Hold Rating on International Seaways (INSW)
In a report released today, Joakim Hannisdahl from Cleaves Securities maintained a Hold rating on International Seaways (INSW), with a price target of $16.00. The company’s shares closed last Thursday at $17.20, close to its 52-week low of $14.89.
According to TipRanks.com, Hannisdahl is a 1-star analyst with an average return of -1.0% and a 47.4% success rate. Hannisdahl covers the Services sector, focusing on stocks such as Nordic American Tanker, Eagle Bulk Shipping, and Star Bulk Carriers.
Currently, the analyst consensus on International Seaways is a Hold with an average price target of $24.20.
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Based on International Seaways’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $125 million and net profit of $33.02 million. In comparison, last year the company earned revenue of $102 million and had a net profit of $10.9 million.
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International Seaways, Inc. engages in the transportation of crude oil and petroleum products. It operates through the following segments: Crude Tankers, Product Carriers, and Other. The Crude Tankers consists of a fleet of vessels that transport unrefined petroleum. The Product Carriers focuses on crude and refined petroleum products. The Other segment includes joint ventures from liquefied natural gas carriers. The company was founded on December 6, 1999 and is headquartered in New York, NY.