Teekay Tankers (NYSE:TNK) Given “Buy” Rating at Jefferies Financial Group

Teekay Tankers (NYSE:TNK)‘s stock had its “buy” rating reissued by equities researchers at Jefferies Financial Group in a report released on Thursday,Benzinga reports. They presently have a $55.00 target price on the shipping company’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 37.05% from the stock’s current price.

Separately, Bank of America restated an “underperform” rating and issued a $46.00 price target (down from $51.00) on shares of Teekay Tankers in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.00.

Teekay Tankers Trading Down 0.4 %

Shares of NYSE:TNK opened at $40.13 on Thursday. The firm has a 50 day moving average of $41.24 and a 200-day moving average of $47.74. The stock has a market capitalization of $1.38 billion, a PE ratio of 3.55 and a beta of -0.43. Teekay Tankers has a 12 month low of $36.04 and a 12 month high of $74.20.

Teekay Tankers (NYSE:TNK) last issued its earnings results on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.49 by $0.01. The company had revenue of $163.42 million during the quarter, compared to analysts’ expectations of $158.26 million. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.84%. On average, research analysts predict that Teekay Tankers will post 7.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TNK. R Squared Ltd bought a new position in Teekay Tankers during the fourth quarter worth $41,000. CWM LLC boosted its stake in Teekay Tankers by 96.8% during the third quarter. CWM LLC now owns 980 shares of the shipping company’s stock worth $57,000 after acquiring an additional 482 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Teekay Tankers during the fourth quarter worth $77,000. Millburn Ridgefield Corp bought a new position in Teekay Tankers during the third quarter worth $132,000. Finally, New Age Alpha Advisors LLC bought a new position in Teekay Tankers during the fourth quarter worth $132,000. 52.67% of the stock is owned by institutional investors.

Teekay Tankers Company Profile

Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services.