Teekay Tankers (NYSE:TNK) was upgraded by UBS Group from a “sell” rating to a “neutral” rating in a note issued to investors on Monday, 247wallst.com reports. The firm presently has a $1.00 price target on the shipping company’s stock, down from their prior price target of $1.26. UBS Group’s price objective would indicate a potential downside of 18.03% from the stock’s previous close.
A number of other brokerages have also weighed in on TNK. Bank of America decreased their price target on shares of Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating on the stock in a report on Friday, November 10th. ValuEngine lowered shares of Teekay Tankers from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. Seaport Global Securities set a $3.00 price target on shares of Teekay Tankers and gave the company a “buy” rating in a report on Thursday, January 4th. Finally, Morgan Stanley decreased their price target on shares of Teekay Tankers from $2.00 to $1.30 and set an “equal weight” rating on the stock in a report on Monday, February 12th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Teekay Tankers currently has an average rating of “Hold” and an average price target of $1.72.
Teekay Tankers (TNK) opened at $1.22 on Monday. The firm has a market cap of $327.21, a price-to-earnings ratio of -3.70 and a beta of 2.18. Teekay Tankers has a 1-year low of $1.08 and a 1-year high of $2.42. The company has a quick ratio of 0.67, a current ratio of 0.75 and a debt-to-equity ratio of 0.92.
Several large investors have recently bought and sold shares of the stock. Huber Capital Management LLC lifted its holdings in shares of Teekay Tankers by 13.0% during the 4th quarter. Huber Capital Management LLC now owns 16,259,924 shares of the shipping company’s stock valued at $22,764,000 after acquiring an additional 1,876,690 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Teekay Tankers by 69.1% during the 4th quarter. BlackRock Inc. now owns 9,629,288 shares of the shipping company’s stock valued at $13,482,000 after acquiring an additional 3,935,024 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Teekay Tankers by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,215,008 shares of the shipping company’s stock valued at $11,684,000 after acquiring an additional 325,871 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Teekay Tankers by 75.7% during the 2nd quarter. Northern Trust Corp now owns 3,096,347 shares of the shipping company’s stock valued at $5,821,000 after acquiring an additional 1,334,417 shares in the last quarter. Finally, Greywolf Capital Management LP acquired a new position in shares of Teekay Tankers during the 4th quarter valued at $2,997,000. Institutional investors and hedge funds own 35.07% of the company’s stock.
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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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