Teekay Tankers (TNK) PT Lowered to $1.30

Teekay Tankers (NYSE:TNK) had its price objective lowered by research analysts at Morgan Stanley from $2.00 to $1.30 in a note issued to investors on Monday. The firm currently has an “equal weight” rating on the shipping company’s stock. Morgan Stanley’s target price would suggest a potential upside of 17.12% from the company’s previous close.

Other equities analysts have also issued reports about the company. ValuEngine lowered 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 target price on Teekay Tankers and gave the company a “buy” rating in a report on Thursday, January 4th. Zacks Investment Research upgraded Teekay Tankers from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Finally, Bank of America cut their target price on Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating on the stock in a report on Friday, November 10th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Teekay Tankers currently has a consensus rating of “Hold” and a consensus target price of $1.82.

Shares of Teekay Tankers (NYSE:TNK) remained flat at $$1.11 during trading on Monday. The company’s stock had a trading volume of 484,011 shares, compared to its average volume of 1,240,213. The firm has a market cap of $198.91, a price-to-earnings ratio of -3.96 and a beta of 2.19. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.73. Teekay Tankers has a twelve month low of $1.10 and a twelve month high of $2.70.

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

Several institutional investors have recently bought and sold shares of the company. Huber Capital Management LLC increased its stake in shares of Teekay Tankers by 12.4% in the second quarter. Huber Capital Management LLC now owns 14,563,834 shares of the shipping company’s stock worth $27,380,000 after purchasing an additional 1,602,809 shares during the period. BlackRock Inc. increased its stake in Teekay Tankers by 69.1% during the fourth 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 during the period. Dimensional Fund Advisors LP increased its stake in Teekay Tankers by 5.5% during the second 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 during the period. Oceanic Investment Management LTD increased its stake in Teekay Tankers by 176.8% during the fourth quarter. Oceanic Investment Management LTD now owns 3,808,200 shares of the shipping company’s stock valued at $26,200,000 after acquiring an additional 2,432,304 shares during the period. Finally, QVT Financial LP increased its stake in Teekay Tankers by 100.7% during the second quarter. QVT Financial LP now owns 3,654,776 shares of the shipping company’s stock valued at $10,891,000 after acquiring an additional 1,833,387 shares during the period. Institutional investors and hedge funds own 28.64% of the company’s stock.

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Teekay Tankers Company Profile

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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