Teekay Tankers (NYSE:TNK) was upgraded by research analysts at DNB Markets from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, The Fly reports.
TNK has been the subject of a number of other research reports. Wells Fargo & Co set a $1.00 price target on Teekay Tankers and gave the stock a “buy” rating in a report on Monday, November 19th. Zacks Investment Research upgraded Teekay Tankers from a “hold” rating to a “buy” rating and set a $1.25 price target for the company in a report on Wednesday, January 30th. Finally, ValuEngine upgraded Teekay Tankers from a “hold” rating to a “buy” rating in a report on Tuesday, November 27th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Teekay Tankers presently has a consensus rating of “Hold” and an average price target of $1.11.
Shares of NYSE:TNK opened at $0.97 on Tuesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.99 and a quick ratio of 0.99. Teekay Tankers has a 1 year low of $0.87 and a 1 year high of $1.36. The stock has a market cap of $253.01 million, a PE ratio of -8.82, a PEG ratio of 8.05 and a beta of 1.34.
Teekay Tankers (NYSE:TNK) last issued its earnings results on Thursday, November 15th. The shipping company reported ($0.07) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.04. Teekay Tankers had a negative return on equity of 7.71% and a negative net margin of 10.61%. The business had revenue of $92.87 million during the quarter, compared to analysts’ expectations of $82.95 million. As a group, sell-side analysts forecast that Teekay Tankers will post -0.25 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its holdings in Teekay Tankers by 92.6% in the 4th quarter. SG Americas Securities LLC now owns 36,974 shares of the shipping company’s stock worth $34,000 after acquiring an additional 17,779 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of Teekay Tankers by 21.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 53,279 shares of the shipping company’s stock valued at $100,000 after purchasing an additional 9,526 shares in the last quarter. PEAK6 Investments L.P. raised its position in shares of Teekay Tankers by 255.7% in the 2nd quarter. PEAK6 Investments L.P. now owns 34,419 shares of the shipping company’s stock valued at $103,000 after purchasing an additional 24,742 shares in the last quarter. Tudor Investment Corp Et Al acquired a new position in shares of Teekay Tankers in the 4th quarter valued at approximately $105,000. Finally, Two Sigma Securities LLC raised its position in shares of Teekay Tankers by 243.5% in the 1st quarter. Two Sigma Securities LLC now owns 51,750 shares of the shipping company’s stock valued at $106,000 after purchasing an additional 36,683 shares in the last quarter. Hedge funds and other institutional investors own 26.00% of the company’s stock.
About Teekay Tankers
Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company operates through two segments, Conventional Tanker and Ship-To-Ship Transfer. It is involved in the marine transportation of crude oil and refined petroleum products through the operation of its oil and product tankers.
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