Teekay Tankers Ltd. (NYSE:TNK) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday. They currently have a $3.05 target price on the stock. Vetr‘s price objective points to a potential upside of 10.91% from the company’s previous close.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Teekay Tankers from a “hold” rating to a “strong sell” rating in a research note on Thursday. Morgan Stanley set a $3.60 price objective on shares of Teekay Tankers and gave the company a “hold” rating in a research note on Friday, August 5th. Danske reissued a “sell” rating on shares of Teekay Tankers in a research report on Monday, August 8th. Finally, Clarkson Capital downgraded shares of Teekay Tankers from a “buy” rating to a “neutral” rating and reduced their target price for the company from $7.00 to $3.00 in a research report on Monday, October 3rd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $6.18.
Teekay Tankers (NYSE:TNK) opened at 2.75 on Thursday. The firm’s 50-day moving average is $2.62 and its 200 day moving average is $3.19. The firm has a market capitalization of $429.83 million, a P/E 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 posted its quarterly earnings data on Thursday, August 4th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The firm earned $139.62 million during the quarter, compared to analyst estimates of $131.06 million. Teekay Tankers had a net margin of 26.09% and a return on equity of 18.71%. The company’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS. On average, analysts expect that Teekay Tankers will post $0.81 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in Teekay Tankers by 13.0% in the second quarter. Dimensional Fund Advisors LP now owns 4,509,933 shares of the company’s stock valued at $13,440,000 after buying an additional 518,892 shares in the last quarter. QVT Financial LP boosted its stake in Teekay Tankers by 100.7% in the second quarter. QVT Financial LP now owns 3,654,776 shares of the company’s stock valued at $10,891,000 after buying an additional 1,833,387 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Teekay Tankers by 24.8% in the second quarter. BlackRock Fund Advisors now owns 2,972,450 shares of the company’s stock valued at $8,858,000 after buying an additional 589,984 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Teekay Tankers by 0.5% in the second quarter. Ameriprise Financial Inc. now owns 1,960,987 shares of the company’s stock valued at $5,843,000 after buying an additional 8,985 shares in the last quarter. Finally, Oxford Asset Management boosted its stake in Teekay Tankers by 25.1% in the second quarter. Oxford Asset Management now owns 1,942,688 shares of the company’s stock valued at $5,789,000 after buying an additional 389,952 shares in the last quarter. Institutional investors and hedge funds own 52.62% of the company’s stock.
About Teekay Tankers
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.
To view Vetr’s full report, visit Vetr’s official website.
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