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

Teekay Tankers (NYSE:TNK - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Jefferies Financial Group in a note issued to investors on Thursday,Benzinga reports. They currently have a $55.00 price target on the shipping company's stock. Jefferies Financial Group's price target would suggest a potential upside of 21.12% from the company's previous close.

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

Teekay Tankers Trading Up 0.2%

Shares of NYSE TNK traded up $0.07 during midday trading on Thursday, reaching $45.41. The company had a trading volume of 289,406 shares, compared to its average volume of 390,656. The business's 50-day simple moving average is $39.41 and its 200 day simple moving average is $40.89. The stock has a market cap of $1.56 billion, a P/E ratio of 4.01 and a beta of -0.10. Teekay Tankers has a 1 year low of $33.35 and a 1 year high of $74.20.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The shipping company reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.53 by ($0.32). The company had revenue of $115.64 million during the quarter, compared to analysts' expectations of $146.31 million. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The company's quarterly revenue was down 37.1% on a year-over-year basis. During the same period in the prior year, the business posted $4.23 EPS. Analysts predict that Teekay Tankers will post 7.13 earnings per share for the current year.

Institutional Investors Weigh In On Teekay Tankers

A number of hedge funds and other institutional investors have recently made changes to their positions in TNK. R Squared Ltd acquired a new stake in shares of Teekay Tankers during the 4th quarter worth approximately $41,000. Blue Trust Inc. increased its holdings in Teekay Tankers by 49.3% in the first 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 in the last quarter. TD Private Client Wealth LLC increased its holdings in Teekay Tankers by 19.7% in the first 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. Meeder Asset Management Inc. purchased a new position in Teekay Tankers in the fourth quarter valued at $77,000. Finally, New Age Alpha Advisors LLC purchased a new position in Teekay Tankers in the fourth quarter valued at $132,000. Institutional investors and hedge funds 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.