Teekay Tankers Ltd. (NYSE:TNK – Get Rating)'s share price gapped up prior to trading on Thursday . The stock had previously closed at $26.71, but opened at $27.32. Teekay Tankers shares last traded at $27.38, with a volume of 1,155 shares traded.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of Teekay Tankers from $40.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday, November 29th. StockNews.com downgraded shares of Teekay Tankers from a "buy" rating to a "hold" rating in a research note on Tuesday, November 29th. Finally, Bank of America upgraded shares of Teekay Tankers from an "underperform" rating to a "neutral" rating in a research note on Thursday, November 3rd. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $44.00.
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Teekay Tankers Trading Down 0.5 %
The company has a quick ratio of 1.45, a current ratio of 1.82 and a debt-to-equity ratio of 0.53. The stock's 50 day moving average price is $32.11 and its 200-day moving average price is $27.12. The stock has a market capitalization of $918.69 million, a P/E ratio of 22.14, a P/E/G ratio of 0.66 and a beta of -0.03.
Teekay Tankers (NYSE:TNK – Get Rating) last announced its earnings results on Thursday, November 3rd. The shipping company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.11). The firm had revenue of $144.37 million during the quarter, compared to analyst estimates of $154.19 million. Teekay Tankers had a net
margin of 5.01% and a return on equity of 5.19%. As a group, equities research analysts expect that Teekay Tankers Ltd. will post 5.59 earnings per share for the current year.
Institutional Investors Weigh In On Teekay Tankers
Institutional investors have recently bought and sold shares of the company. Ellevest Inc. boosted its stake in Teekay Tankers by 1,597.3% in the third quarter. Ellevest Inc. now owns 1,239 shares of the shipping company's stock valued at $34,000 after acquiring an additional 1,166 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Teekay Tankers by 127.4% in 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 during the last quarter. Amalgamated Bank purchased a new position in shares of Teekay Tankers in the first quarter worth $40,000. USA Financial Portformulas Corp purchased a new position in shares of Teekay Tankers in the third quarter worth $107,000. Finally, Alpha Paradigm Partners LLC purchased a new position in shares of Teekay Tankers in the third quarter worth $152,000. 28.74% of the stock is currently owned by institutional investors and hedge funds.
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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