ValuEngine upgraded shares of Teekay Tankers (NYSE:TNK) from a hold rating to a buy rating in a report published on Thursday morning.
A number of other equities research analysts have also weighed in on TNK. UBS Group upgraded Teekay Tankers from a sell rating to a neutral rating and cut their price objective for the stock from $1.26 to $1.00 in a research report on Monday, February 26th. DNB Markets upgraded Teekay Tankers from a hold rating to a buy rating in a research report on Tuesday, March 6th. Zacks Investment Research upgraded Teekay Tankers from a sell rating to a hold rating in a research report on Wednesday, March 7th. Morgan Stanley cut their price objective on Teekay Tankers from $1.30 to $1.10 and set an equal weight rating on the stock in a research report on Wednesday, April 25th. Finally, Wells Fargo & Co upgraded Teekay Tankers from a market perform rating to an outperform rating in a research report on Monday, June 18th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $1.72.
Shares of TNK stock opened at $1.31 on Thursday. The company has a market capitalization of $333.01 million, a PE ratio of -11.91 and a beta of 2.00. Teekay Tankers has a fifty-two week low of $0.96 and a fifty-two week high of $2.00. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.74 and a current ratio of 0.74.
Teekay Tankers (NYSE:TNK) last issued its quarterly earnings data on Thursday, May 17th. The shipping company reported ($0.08) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.08). The firm had revenue of $88.47 million for the quarter, compared to analyst estimates of $83.84 million. Teekay Tankers had a negative return on equity of 5.24% and a negative net margin of 17.16%. The business’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same period last year, the company earned $0.04 EPS. research analysts forecast that Teekay Tankers will post -0.32 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mangrove Partners bought a new stake in shares of Teekay Tankers during the fourth quarter valued at approximately $133,000. MetLife Investment Advisors LLC bought a new stake in shares of Teekay Tankers during the fourth quarter valued at approximately $141,000. Banco de Sabadell S.A bought a new stake in shares of Teekay Tankers during the first quarter valued at approximately $181,000. American International Group Inc. boosted its position in shares of Teekay Tankers by 67.6% during the fourth quarter. American International Group Inc. now owns 137,048 shares of the shipping company’s stock valued at $192,000 after purchasing an additional 55,258 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Teekay Tankers by 47.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 159,954 shares of the shipping company’s stock valued at $224,000 after purchasing an additional 51,244 shares in the last quarter. Institutional investors own 29.99% of the company’s stock.
Teekay Tankers Company Profile
Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company operates through two segments, Conventional Tanker and Ship-To-Ship Transfer. It is involved in the marine transportation of crude oil and refined petroleum products through the operation of its oil and product tankers.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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