Clarkson Capital lowered shares of Teekay Tankers Ltd. (NYSE:TNK) from a buy rating to a neutral rating in a research note issued to investors on Monday. The brokerage currently has $3.00 price target on the stock, down from their prior price target of $7.00.
Other equities analysts have also recently issued reports about the company. Vetr cut Teekay Tankers from a strong-buy rating to a buy rating and set a $3.94 price objective on the stock. in a report on Wednesday, June 8th. Morgan Stanley reissued an equal weight rating and set a $2.50 price objective (down from $3.60) on shares of Teekay Tankers in a report on Friday, August 26th. Zacks Investment Research raised Teekay Tankers from a strong sell rating to a hold rating in a report on Wednesday, September 21st. Finally, Danske reissued a sell rating on shares of Teekay Tankers in a report on Monday, August 8th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Teekay Tankers currently has an average rating of Hold and an average target price of $6.25.
Teekay Tankers (NYSE:TNK) opened at 2.52 on Monday. The stock’s 50 day moving average price is $2.63 and its 200-day moving average price is $3.22. The firm has a market capitalization of $393.88 million, a price-to-earnings ratio of 2.47 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 announced its quarterly earnings data 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 company had revenue of $139.62 million for the quarter, compared to analysts’ expectations of $131.06 million. Teekay Tankers had a return on equity of 18.71% and a net margin of 26.09%. Teekay Tankers’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period last year, the firm posted $0.35 EPS. Equities analysts anticipate that Teekay Tankers will post $0.81 EPS for the current fiscal year.
Several large investors have recently modified their holdings of the company. Prudential Financial Inc. raised its stake in shares of Teekay Tankers by 85.5% in the first quarter. Prudential Financial Inc. now owns 287,693 shares of the company’s stock worth $1,056,000 after buying an additional 132,600 shares in the last quarter. Columbia Partners L L C Investment Management raised its stake in Teekay Tankers by 150.5% in the first quarter. Columbia Partners L L C Investment Management now owns 815,739 shares of the company’s stock valued at $2,993,000 after buying an additional 490,103 shares in the last quarter. State Street Corp raised its stake in Teekay Tankers by 4.3% in the first quarter. State Street Corp now owns 1,401,033 shares of the company’s stock valued at $5,145,000 after buying an additional 57,623 shares in the last quarter. UBS Group AG raised its stake in Teekay Tankers by 32.4% in the first quarter. UBS Group AG now owns 707,125 shares of the company’s stock valued at $2,595,000 after buying an additional 172,989 shares in the last quarter. Finally, HBK Investments L P raised its stake in Teekay Tankers by 1,509.0% in the first quarter. HBK Investments L P now owns 224,100 shares of the company’s stock valued at $822,000 after buying an additional 210,172 shares in the last quarter. Hedge funds and other institutional investors 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.
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