Several other research firms also recently weighed in on TNK. Zacks Investment Research upgraded shares of Teekay Tankers from a hold rating to a strong-buy rating and set a $12.00 price target for the company in a research report on Friday, October 4th. Jefferies Financial Group upgraded Teekay Tankers from a hold rating to a buy rating in a research note on Wednesday, October 23rd. Evercore ISI reissued a buy rating and set a $28.00 target price on shares of Teekay Tankers in a report on Sunday, November 17th. Finally, Bank of America raised Teekay Tankers from an underperform rating to a buy rating in a report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $18.00.
Teekay Tankers stock opened at $19.42 on Tuesday. Teekay Tankers has a 12 month low of $6.96 and a 12 month high of $21.03. The stock has a market capitalization of $651.93 million, a PE ratio of -12.14, a price-to-earnings-growth ratio of 3.98 and a beta of 1.18. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.89 and a quick ratio of 0.71. The business has a 50 day simple moving average of $5.22 and a 200-day simple moving average of $2.22.
Several hedge funds and other institutional investors have recently modified their holdings of TNK. Virtu Financial LLC lifted its stake in shares of Teekay Tankers by 12.9% in the third quarter. Virtu Financial LLC now owns 39,781 shares of the shipping company’s stock worth $52,000 after buying an additional 4,547 shares in the last quarter. State Street Corp grew its stake in Teekay Tankers by 0.4% during the 3rd quarter. State Street Corp now owns 3,450,920 shares of the shipping company’s stock valued at $4,486,000 after acquiring an additional 14,348 shares in the last quarter. CNA Financial Corp grew its stake in Teekay Tankers by 21.0% during the 3rd quarter. CNA Financial Corp now owns 210,850 shares of the shipping company’s stock valued at $274,000 after acquiring an additional 36,600 shares in the last quarter. Monarch Partners Asset Management LLC raised its holdings in Teekay Tankers by 13.4% in the 3rd quarter. Monarch Partners Asset Management LLC now owns 295,450 shares of the shipping company’s stock valued at $384,000 after acquiring an additional 35,020 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in Teekay Tankers in the 3rd quarter valued at about $105,000. Institutional investors and hedge funds own 24.85% of the company’s stock.
Teekay Tankers Company Profile
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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