Teekay Tankers Ltd. (NYSE:TNK) Receives $7.00 Average Price Target from Analysts
Shares of Teekay Tankers Ltd. (NYSE:TNK) have received an average rating of “Hold” from the fourteen ratings firms that are currently covering the company. Three equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $7.00.
TNK has been the subject of several research reports. Vetr lowered shares of Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.94 price objective for the company. in a research report on Wednesday, June 8th. Morgan Stanley reiterated an “equal weight” rating and set a $2.50 price objective (down previously from $3.60) on shares of Teekay Tankers in a research report on Friday, August 26th. Zacks Investment Research upgraded shares of Teekay Tankers from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 21st. Finally, Danske reiterated a “sell” rating on shares of Teekay Tankers in a research report on Monday, August 8th.
Large investors have recently made changes to their positions in the stock. 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 bought 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 bought a new stake in shares of Teekay Tankers during the second quarter worth $117,000. Finally, Panagora Asset Management Inc. bought a new stake in shares of Teekay Tankers during the second quarter worth $154,000. Institutional investors own 52.62% of the company’s stock.
Teekay Tankers (NYSE:TNK) opened at 2.53 on Thursday. The stock has a market cap of $395.44 million, a PE ratio of 2.48 and a beta of 2.42. Teekay Tankers has a 52-week low of $2.42 and a 52-week high of $8.53. The firm has a 50 day moving average of $2.64 and a 200-day moving average of $3.24.
Teekay Tankers (NYSE:TNK) last released 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. Teekay Tankers had a net margin of 26.09% and a return on equity of 18.71%. The business earned $139.62 million during the quarter, compared to analyst estimates of $131.06 million. During the same quarter last year, the business earned $0.35 earnings per share. Teekay Tankers’s quarterly revenue was up 25.4% compared to the same quarter last year. Equities analysts anticipate that Teekay Tankers will post $0.81 earnings per share for the current fiscal year.
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 owns around 11 Aframax Tankers, three medium range product tankers, 10 Suezmax tankers and three long range 2 product tankers. The Company’s chartered-in vessels include eight Aframax Tankers and four long range 2 product tankers.
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