Jefferies Financial Group Reaffirms Buy Rating for Teekay Tankers (NYSE:TNK)

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 reaffirmed by stock analysts at Jefferies Financial Group in a note issued to investors on Thursday,Benzinga reports. They presently have a $55.00 target price on the shipping company's stock. Jefferies Financial Group's price target points to a potential upside of 21.88% from the company's current price.

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

Teekay Tankers Trading Up 5.9%

NYSE TNK traded up $2.53 during trading hours on Thursday, reaching $45.13. The company had a trading volume of 697,680 shares, compared to its average volume of 506,279. The stock has a market capitalization of $1.55 billion, a P/E ratio of 5.61 and a beta of -0.09. The stock has a 50-day moving average of $44.37 and a 200 day moving average of $41.86. Teekay Tankers has a 1-year low of $33.35 and a 1-year high of $62.45.

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

Institutional Investors Weigh In On Teekay Tankers

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

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.