Teekay Tankers Ltd. (NYSE:TNK – Get Rating)'s stock price traded down 2.2% on Wednesday . The stock traded as low as $31.66 and last traded at $31.79. 2,355 shares were traded during mid-day trading, a decline of 99% from the average session volume of 443,483 shares. The stock had previously closed at $32.50.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the stock. StockNews.com cut shares of Teekay Tankers from a "buy" rating to a "hold" rating in a research note on Tuesday, November 29th. Jefferies Financial Group raised their target price on shares of Teekay Tankers from $40.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, November 29th. Finally, Bank of America raised shares of Teekay Tankers from an "underperform" rating to a "neutral" rating in a research note on Thursday, November 3rd. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Teekay Tankers currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.00.
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Teekay Tankers Stock Performance
The company has a debt-to-equity ratio of 0.53, a current ratio of 1.82 and a quick ratio of 1.45. The stock's 50-day simple moving average is $32.65 and its 200 day simple moving average is $26.38. The stock has a market capitalization of $1.04 billion, a P/E ratio of 25.11, a PEG ratio of 1.90 and a beta of -0.08.
Teekay Tankers (NYSE:TNK – Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The shipping company reported $1.70 EPS for the quarter, missing analysts' consensus estimates of $1.81 by ($0.11). Teekay Tankers had a return on equity of 5.19% and a net
margin of 5.01%. The company had revenue of $144.37 million for the quarter, compared to the consensus estimate of $154.19 million. Research analysts expect that Teekay Tankers Ltd. will post 5.59 EPS for the current fiscal year.
Institutional Investors Weigh In On Teekay Tankers
Hedge funds and other institutional investors have recently modified their holdings of the company. Ellevest Inc. lifted its holdings in shares of Teekay Tankers by 1,597.3% during the third quarter. Ellevest Inc. now owns 1,239 shares of the shipping company's stock worth $34,000 after buying an additional 1,166 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Teekay Tankers by 127.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,401 shares of the shipping company's stock worth $38,000 after buying an additional 785 shares in the last quarter. Amalgamated Bank acquired a new stake in shares of Teekay Tankers during the first quarter worth $40,000. USA Financial Portformulas Corp acquired a new stake in shares of Teekay Tankers during the third quarter worth $107,000. Finally, Alpha Paradigm Partners LLC acquired a new stake in shares of Teekay Tankers during the third quarter worth $152,000. Institutional investors and hedge funds own 28.74% of the company's stock.
About Teekay Tankers
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Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; and offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products.
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