Vetr downgraded shares of Teekay Tankers Ltd. (NYSE:TNK) from a strong-buy rating to a buy rating in a report issued on Thursday morning. The firm currently has $3.05 target price on the stock.
Several other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of Teekay Tankers from a hold rating to a strong sell rating in a research note on Thursday, October 6th. Clarkson Capital cut shares of Teekay Tankers from a buy rating to a neutral rating and reduced their price objective for the company from $7.00 to $3.00 in a research note on Monday, October 3rd. Morgan Stanley reaffirmed an equal weight rating and set a $2.50 price objective (down previously from $3.60) on shares of Teekay Tankers in a research note on Friday, August 26th. Finally, Danske reaffirmed a sell rating on shares of Teekay Tankers in a research note on Monday, August 8th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $6.18.
Teekay Tankers (NYSE:TNK) opened at 2.75 on Thursday. The firm has a 50-day moving average of $2.62 and a 200 day moving average of $3.17. The firm has a market capitalization of $429.83 million, a PE ratio of 2.70 and a beta of 2.29. Teekay Tankers has a 12 month low of $2.42 and a 12 month high of $8.53.
Teekay Tankers (NYSE:TNK) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. The company earned $139.62 million during the quarter, compared to analysts’ expectations of $131.06 million. Teekay Tankers had a net margin of 26.09% and a return on equity of 18.71%. Teekay Tankers’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.35 earnings per share. Equities research analysts forecast that Teekay Tankers will post $0.81 earnings per share for the current year.
Several large investors have recently made changes to their positions in the company. PEAK6 Investments L.P. raised its stake in shares of Teekay Tankers by 255.7% in the second quarter. PEAK6 Investments L.P. now owns 34,419 shares of the company’s stock worth $103,000 after buying an additional 24,742 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of Teekay Tankers during the second quarter worth $105,000. BlackRock Advisors LLC raised its stake in shares of Teekay Tankers by 29.4% in the second quarter. BlackRock Advisors LLC now owns 38,589 shares of the company’s stock worth $115,000 after buying an additional 8,767 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Teekay Tankers during the second quarter worth $117,000. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Teekay Tankers during the second quarter worth $154,000. Hedge funds and other institutional investors own 52.62% of the company’s stock.
Teekay Tankers Company Profile
Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Company’s business is to own crude oil and product tankers. The Company has two segments: conventional tanker and ship-to-ship transfer. Its conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts.