Teekay Tankers (NYSE:TNK – Get Rating) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.
Other equities analysts also recently issued reports about the stock. Jefferies Financial Group upped their price target on shares of Teekay Tankers from $40.00 to $44.00 and gave the stock a "buy" rating in a research note on Tuesday, November 29th. Bank of America raised shares of Teekay Tankers from an "underperform" rating to a "neutral" rating in a research note on Thursday, November 3rd. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $44.00.
Get Teekay Tankers alerts:Teekay Tankers Price Performance
Shares of NYSE:TNK opened at $29.71 on Friday. The company's fifty day moving average is $30.78 and its two-hundred day moving average is $28.30. The company has a quick ratio of 1.45, a current ratio of 1.82 and a debt-to-equity ratio of 0.53. Teekay Tankers has a 12-month low of $10.25 and a 12-month high of $36.61. The company has a market cap of $1.00 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 0.68 and a beta of -0.03.
Teekay Tankers (NYSE:TNK – Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The shipping company reported $1.70 earnings per share 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 during the quarter, compared to analyst estimates of $154.19 million. Equities analysts expect that Teekay Tankers will post 5.79 earnings per share for the current fiscal year.Hedge Funds Weigh In On Teekay Tankers
Hedge funds have recently bought and sold shares of the business. Ellevest Inc. increased its position in 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 during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in 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 valued at $38,000 after acquiring an additional 785 shares during the period. Amalgamated Bank bought a new stake in Teekay Tankers during the first quarter valued at about $40,000. Ronald Blue Trust Inc. boosted its holdings in Teekay Tankers by 151.9% during the fourth quarter. Ronald Blue Trust Inc. now owns 3,511 shares of the shipping company's stock valued at $97,000 after acquiring an additional 2,117 shares during the period. Finally, USA Financial Portformulas Corp bought a new stake in Teekay Tankers during the third quarter valued at about $107,000. 28.74% of the stock is owned by institutional investors and hedge funds.
Teekay Tankers Company Profile
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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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