Teekay Tankers Ltd. (TNK) Receives Average Rating of “Hold” from Analysts

Teekay Tankers Ltd. (NYSE:TNK) has received a consensus recommendation of “Hold” from the eight analysts that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $1.93.

A number of equities analysts have commented on TNK shares. Zacks Investment Research raised shares of Teekay Tankers from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. Seaport Global Securities set a $3.00 price target on shares of Teekay Tankers and gave the stock a “buy” rating in a research note on Thursday, January 4th. ValuEngine cut shares of Teekay Tankers from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st. Finally, Bank of America cut their price target on shares of Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating for the company in a research note on Friday, November 10th.

Several institutional investors have recently made changes to their positions in TNK. Rhumbline Advisers boosted its stake in shares of Teekay Tankers by 7.2% in the 2nd quarter. Rhumbline Advisers now owns 140,315 shares of the shipping company’s stock valued at $264,000 after purchasing an additional 9,437 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Teekay Tankers by 2.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 393,015 shares of the shipping company’s stock valued at $739,000 after purchasing an additional 9,066 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Teekay Tankers by 4.1% in the 2nd quarter. Wells Fargo & Company MN now owns 237,561 shares of the shipping company’s stock valued at $446,000 after purchasing an additional 9,272 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Teekay Tankers by 24.1% in the 2nd quarter. Alliancebernstein L.P. now owns 177,957 shares of the shipping company’s stock valued at $335,000 after purchasing an additional 34,600 shares in the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of Teekay Tankers by 5.7% in the 2nd quarter. Teachers Advisors LLC now owns 229,577 shares of the shipping company’s stock valued at $432,000 after purchasing an additional 12,377 shares in the last quarter. 28.37% of the stock is owned by institutional investors.

Teekay Tankers (NYSE:TNK) traded down $0.01 during mid-day trading on Tuesday, reaching $1.14. 1,165,664 shares of the company’s stock were exchanged, compared to its average volume of 1,230,854. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.73. Teekay Tankers has a fifty-two week low of $1.11 and a fifty-two week high of $2.70. The stock has a market cap of $311.11, a PE ratio of -4.14 and a beta of 2.18.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings results on Thursday, November 9th. The shipping company reported ($0.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.02. Teekay Tankers had a negative net margin of 11.43% and a negative return on equity of 0.99%. The business had revenue of $91.20 million during the quarter, compared to analysts’ expectations of $68.67 million. During the same quarter in the previous year, the company earned ($0.01) EPS. The business’s quarterly revenue was down 16.8% compared to the same quarter last year. sell-side analysts forecast that Teekay Tankers will post -0.15 earnings per share for the current fiscal year.

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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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