Teekay Tankers Downgraded to Underperform at Bank of America (TNK)
Teekay Tankers (NYSE:TNK) was downgraded by equities researchers at Bank of America to an “underperform” rating in a research report issued on Wednesday, American Banking and Market News reports.
TNK has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of Teekay Tankers from an “outperform” rating to a “neutral” rating in a research note on Monday, April 28th. They now have a $4.50 price target on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Teekay Tankers from $3.00 to $5.00 in a research note on Wednesday, April 23rd. They now have a “hold” rating on the stock. Finally, analysts at Evercore Partners raised their price target on shares of Teekay Tankers from $4.50 to $5.00 in a research note on Friday, April 11th. They now have an “overweight” rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Teekay Tankers currently has a consensus rating of “Hold” and an average price target of $17.26.
Teekay Tankers (NYSE:TNK) opened at 3.60 on Wednesday. Teekay Tankers has a 52 week low of $2.49 and a 52 week high of $5.08. The stock has a 50-day moving average of $3.62 and a 200-day moving average of $3.55. The company’s market cap is $300.9 million.
Teekay Tankers (NYSE:TNK) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.03) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.05) by $0.02. Analysts expect that Teekay Tankers will post $0.16 EPS for the current fiscal year.
Teekay Tankers Ltd. is an international provider of marine transportation to global oil industries. The Company’s business is to own crude oil and product tankers.
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