Teekay Tankers Ltd. (TNK) Lowered to “Buy” at Vetr Inc.
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. They currently have $3.05 price objective on the stock.
Other equities research analysts have also issued reports about the stock. Morgan Stanley reaffirmed an equal weight rating and set a $2.50 price target (down from $3.60) on shares of Teekay Tankers in a report on Friday, August 26th. Zacks Investment Research raised shares of Teekay Tankers from a strong sell rating to a hold rating in a report on Wednesday, September 21st. Clarkson Capital lowered shares of Teekay Tankers from a buy rating to a neutral rating and decreased their price objective for the stock from $7.00 to $3.00 in a report on Monday. Finally, Danske reissued a sell rating on shares of Teekay Tankers in a report on Monday, August 8th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $6.18.
Shares of Teekay Tankers (NYSE:TNK) traded down 3.036% on Thursday, hitting $2.715. 726,443 shares of the stock were exchanged. The firm’s 50 day moving average price is $2.63 and its 200 day moving average price is $3.20. Teekay Tankers has a one year low of $2.42 and a one year high of $8.53. The firm has a market cap of $424.35 million, a price-to-earnings ratio of 2.662 and a beta of 2.29.
Teekay Tankers (NYSE:TNK) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.01. The business 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 business’s revenue was up 25.4% on a year-over-year basis. During the same period last year, the business earned $0.35 EPS. Equities analysts anticipate that Teekay Tankers will post $0.81 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the stock. PEAK6 Investments L.P. raised its position 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 valued at $103,000 after buying an additional 24,742 shares during the period. Highbridge Capital Management LLC purchased a new position in shares of Teekay Tankers during the second quarter valued at approximately $105,000. BlackRock Advisors LLC raised its position 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 valued at $115,000 after buying an additional 8,767 shares during the period. Bank of Montreal Can purchased a new position in shares of Teekay Tankers during the second quarter valued at approximately $117,000. Finally, Panagora Asset Management Inc. purchased a new position in shares of Teekay Tankers during the second quarter valued at approximately $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.
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