Vetr downgraded shares of Teekay Tankers Ltd. (NYSE:TNK) from a strong-buy rating to a buy rating in a research report released on Thursday morning. The firm currently has $3.05 target price on the stock.
Several other analysts have also commented on TNK. Morgan Stanley set a $3.60 price objective on Teekay Tankers and gave the stock a hold rating in a report on Friday, August 5th. Danske reiterated a sell rating on shares of Teekay Tankers in a research report on Monday, August 8th. Zacks Investment Research downgraded Teekay Tankers from a hold rating to a strong sell rating in a research report on Thursday, August 11th. Finally, Clarkson Capital downgraded Teekay Tankers from a buy rating to a neutral rating and lowered their target price for the company from $7.00 to $3.00 in a research report on Monday. 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 company. Teekay Tankers has an average rating of Hold and an average price target of $6.18.
Shares of Teekay Tankers (NYSE:TNK) traded down 3.036% during trading on Thursday, hitting $2.715. The stock had a trading volume of 726,443 shares. The company has a market cap of $424.35 million, a PE ratio of 2.662 and a beta of 2.29. Teekay Tankers has a 12 month low of $2.42 and a 12 month high of $8.53. The stock has a 50 day moving average of $2.63 and a 200 day moving average of $3.20.
Teekay Tankers (NYSE:TNK) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.01. Teekay Tankers had a return on equity of 18.71% and a net margin of 26.09%. The company earned $139.62 million during the quarter, compared to analyst estimates of $131.06 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. Teekay Tankers’s revenue was up 25.4% compared to the same quarter last year. Equities analysts forecast that Teekay Tankers will post $0.81 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in Teekay Tankers by 13.0% in the second quarter. Dimensional Fund Advisors LP now owns 4,509,933 shares of the company’s stock valued at $13,440,000 after buying an additional 518,892 shares during the period. QVT Financial LP increased its position in Teekay Tankers by 100.7% in the second quarter. QVT Financial LP now owns 3,654,776 shares of the company’s stock valued at $10,891,000 after buying an additional 1,833,387 shares during the period. BlackRock Fund Advisors increased its position in Teekay Tankers by 24.8% in the second quarter. BlackRock Fund Advisors now owns 2,972,450 shares of the company’s stock valued at $8,858,000 after buying an additional 589,984 shares during the period. Ameriprise Financial Inc. increased its position in Teekay Tankers by 0.5% in the second quarter. Ameriprise Financial Inc. now owns 1,960,987 shares of the company’s stock valued at $5,843,000 after buying an additional 8,985 shares during the period. Finally, Oxford Asset Management increased its position in Teekay Tankers by 25.1% in the second quarter. Oxford Asset Management now owns 1,942,688 shares of the company’s stock valued at $5,789,000 after buying an additional 389,952 shares during the period. Institutional investors and hedge funds 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.
To view Vetr’s full report, visit Vetr’s official website.
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