Teekay Tankers (NYSE:TNK - Get Free Report ) had its price objective boosted by research analysts at Bank of America from $66.00 to $79.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the shipping company's stock. Bank of America 's target price suggests a potential upside of 15.01% from the stock's current price.
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Several other research analysts have also recently issued reports on TNK. Jefferies Financial Group raised their target price on shares of Teekay Tankers from $70.00 to $76.00 and gave the stock a "buy" rating in a report on Thursday. Evercore ISI decreased their price objective on Teekay Tankers from $77.00 to $73.00 and set an "outperform" rating for the company in a report on Friday, February 23rd. Finally, StockNews.com lowered Teekay Tankers from a "buy" rating to a "hold" rating in a report on Thursday.
View Our Latest Stock Report on TNK
Teekay Tankers Stock Performance TNK traded down $0.61 on Friday, reaching $68.69. 545,726 shares of the stock were exchanged, compared to its average volume of 295,196. The company's 50-day moving average price is $57.70 and its 200 day moving average price is $55.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.40 and a quick ratio of 4.02. The firm has a market capitalization of $2.35 billion, a PE ratio of 4.62, a PEG ratio of 1.41 and a beta of -0.27. Teekay Tankers has a fifty-two week low of $35.00 and a fifty-two week high of $70.67.
Teekay Tankers (NYSE:TNK - Get Free Report ) last issued its earnings results on Thursday, February 22nd. The shipping company reported $2.87 EPS for the quarter, missing analysts' consensus estimates of $3.68 by ($0.81). Teekay Tankers had a net margin of 37.65% and a return on equity of 36.16%. The firm had revenue of $194.46 million during the quarter, compared to analysts' expectations of $219.93 million. As a group, sell-side analysts forecast that Teekay Tankers will post 14.25 EPS for the current fiscal year.
Institutional Investors Weigh In On Teekay Tankers Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tucker Asset Management LLC acquired a new stake in shares of Teekay Tankers in the fourth quarter valued at about $38,000. PNC Financial Services Group Inc. boosted its holdings in Teekay Tankers by 666.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,495 shares of the shipping company's stock worth $62,000 after buying an additional 1,300 shares during the last quarter. Assetmark Inc. increased its stake in Teekay Tankers by 175.0% during the 3rd quarter. Assetmark Inc. now owns 1,510 shares of the shipping company's stock worth $63,000 after buying an additional 961 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Teekay Tankers during the fourth quarter valued at approximately $80,000. Finally, ProShare Advisors LLC purchased a new position in shares of Teekay Tankers in the first quarter valued at approximately $251,000. Hedge funds and other institutional investors own 52.67% of the company's stock.
About Teekay Tankers (
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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.
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