Teekay Tankers Ltd. (NYSE:TNK) Receives Average Recommendation of “Hold” from Brokerages

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Teekay Tankers Ltd. (NYSE:TNK) has earned an average rating of “Hold” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $18.40.

TNK has been the subject of a number of recent research reports. Bank of America downgraded shares of Teekay Tankers from a “buy” rating to an “underperform” rating and cut their price objective for the company from $20.00 to $14.00 in a research report on Friday, August 14th. Fearnley Fonds downgraded shares of Teekay Tankers from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a report on Tuesday, June 2nd. Zacks Investment Research downgraded shares of Teekay Tankers from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 21st. DNB Markets raised shares of Teekay Tankers from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Thursday, May 28th. Finally, BofA Securities downgraded shares of Teekay Tankers from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $20.00 to $14.00 in a report on Friday, August 14th.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp purchased a new stake in shares of Teekay Tankers during the 1st quarter valued at about $267,000. Johnson Investment Counsel Inc. raised its position in shares of Teekay Tankers by 101.6% during the 1st quarter. Johnson Investment Counsel Inc. now owns 19,266 shares of the shipping company’s stock valued at $445,000 after buying an additional 9,711 shares in the last quarter. Advisor Group Holdings Inc. purchased a new stake in shares of Teekay Tankers during the 1st quarter valued at about $314,000. Deutsche Bank AG raised its position in Teekay Tankers by 890.7% in the 1st quarter. Deutsche Bank AG now owns 133,509 shares of the shipping company’s stock worth $2,969,000 after purchasing an additional 120,033 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Teekay Tankers by 152.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 720,217 shares of the shipping company’s stock worth $9,232,000 after purchasing an additional 435,252 shares during the period. 28.45% of the stock is owned by institutional investors and hedge funds.

Shares of TNK stock opened at $12.42 on Wednesday. Teekay Tankers has a 1 year low of $9.60 and a 1 year high of $26.92. The firm has a fifty day moving average price of $13.61 and a 200-day moving average price of $16.04. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.88 and a quick ratio of 1.71. The company has a market cap of $418.00 million, a price-to-earnings ratio of 1.69, a PEG ratio of 0.68 and a beta of 0.05.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings data on Thursday, August 13th. The shipping company reported $2.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.90 by ($0.51). Teekay Tankers had a net margin of 23.10% and a return on equity of 24.00%. Equities research analysts expect that Teekay Tankers will post 6.22 EPS for the current year.

About Teekay Tankers

Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. It operates through two segments, Conventional Tanker and Ship-to-ship Transfer (STS). The company offers voyage and time charter services; and offshore STS transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products.

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Analyst Recommendations for Teekay Tankers (NYSE:TNK)

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