Shares of Teekay Tankers Ltd. (NYSE:TNK) have received a consensus rating of “Hold” from the nine analysts that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $18.40.
Several brokerages recently commented on TNK. Bank of America downgraded shares of Teekay Tankers from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $20.00 to $14.00 in a research note on Friday, August 14th. Zacks Investment Research cut shares of Teekay Tankers from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, BofA Securities downgraded shares of Teekay Tankers from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $20.00 to $14.00 in a research note on Friday, August 14th.
Shares of NYSE:TNK traded down $0.39 during trading on Friday, hitting $10.90. 309,731 shares of the company were exchanged, compared to its average volume of 1,124,475. The stock has a market cap of $366.84 million, a price-to-earnings ratio of 1.49, a P/E/G ratio of 0.68 and a beta of 0.05. The company has a current ratio of 1.88, a quick ratio of 1.71 and a debt-to-equity ratio of 0.55. Teekay Tankers has a fifty-two week low of $9.92 and a fifty-two week high of $26.92. The firm has a fifty day moving average price of $11.59 and a two-hundred day moving average price of $15.14.
Teekay Tankers (NYSE:TNK) last issued its earnings results on Thursday, August 13th. The shipping company reported $2.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.90 by ($0.51). The firm had revenue of $184.93 million for the quarter, compared to analyst estimates of $219.46 million. Teekay Tankers had a return on equity of 24.00% and a net margin of 23.10%. As a group, research analysts predict that Teekay Tankers will post 6.22 EPS for the current year.
Several large investors have recently bought and sold shares of the company. Bridgeway Capital Management Inc. increased its position in shares of Teekay Tankers by 4.8% in the second quarter. Bridgeway Capital Management Inc. now owns 208,437 shares of the shipping company’s stock valued at $2,672,000 after acquiring an additional 9,500 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Teekay Tankers by 11.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 155,745 shares of the shipping company’s stock valued at $1,997,000 after purchasing an additional 15,673 shares in the last quarter. Sei Investments Co. bought a new stake in Teekay Tankers during the second quarter worth about $459,000. Coatue Management LLC purchased a new position in shares of Teekay Tankers in the 2nd quarter worth about $8,777,000. Finally, Ancora Advisors LLC raised its holdings in shares of Teekay Tankers by 40.8% during the 2nd quarter. Ancora Advisors LLC now owns 27,872 shares of the shipping company’s stock valued at $357,000 after buying an additional 8,083 shares in the last quarter. 28.45% of the stock is owned by hedge funds and other institutional investors.
Teekay Tankers Company Profile
Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. It operates through two segments, Conventional Tanker and Ship-to-ship Transfer (STS). The company offers voyage and time charter services; and offshore STS transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products.
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