Teekay Tankers' (TNK) Buy Rating Reiterated at Jefferies Financial Group

Key Points

• Jefferies Financial Group has reaffirmed a "Buy" rating for Teekay Tankers (NYSE:TNK) with a target price of $55.00, suggesting a 27.02% upside potential.
• Evercore ISI has reduced its price target for Teekay Tankers from $53.00 to $51.00, maintaining an "outperform" rating.
• Teekay Tankers' recent earnings report showed an earnings per share of $1.41, missing the consensus estimate of $1.59.

Teekay Tankers (NYSE:TNK - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Jefferies Financial Group in a note issued to investors on Thursday,Benzinga reports. They currently have a $55.00 price objective on the shipping company's stock. Jefferies Financial Group's target price would suggest a potential upside of 29.23% from the company's current price.

Separately, Evercore ISI decreased their price objective on Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $50.67.

Teekay Tankers Stock Performance

Teekay Tankers stock traded up $0.21 during trading hours on Thursday, hitting $42.56. 863,672 shares of the stock were exchanged, compared to its average volume of 358,735. The business's 50-day moving average is $44.37 and its two-hundred day moving average is $41.88. Teekay Tankers has a 12 month low of $33.35 and a 12 month high of $62.45. The stock has a market capitalization of $1.46 billion, a P/E ratio of 5.29 and a beta of -0.09.

Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.59 by ($0.18). Teekay Tankers had a net margin of 28.94% and a return on equity of 11.48%. The business had revenue of $154.23 million during the quarter, compared to the consensus estimate of $162.67 million. During the same period in the prior year, the firm earned $3.11 earnings per share. On average, equities analysts predict that Teekay Tankers will post 7.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Teekay Tankers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in Teekay Tankers by 77.0% during the second quarter. GAMMA Investing LLC now owns 906 shares of the shipping company's stock valued at $38,000 after purchasing an additional 394 shares during the period. Blue Trust Inc. grew its holdings in shares of Teekay Tankers by 49.3% in the 1st quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company's stock valued at $66,000 after buying an additional 568 shares during the period. TD Private Client Wealth LLC increased its position in shares of Teekay Tankers by 19.7% in the 1st quarter. TD Private Client Wealth LLC now owns 1,844 shares of the shipping company's stock valued at $71,000 after buying an additional 304 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Teekay Tankers in the 4th quarter valued at $132,000. Finally, CWM LLC raised its stake in Teekay Tankers by 399.3% during the 1st quarter. CWM LLC now owns 3,480 shares of the shipping company's stock worth $133,000 after buying an additional 2,783 shares during the period. Institutional investors own 52.67% of the company's stock.

About Teekay Tankers

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.