Weiss Ratings Reiterates Hold (C+) Rating for Teekay Tankers (NYSE:TNK)

Key Points

• Weiss Ratings has restated a "Hold (C+)" rating for Teekay Tankers (NYSE:TNK), which indicates a cautious outlook on the stock.
• Analysts have mixed opinions on Teekay Tankers; while Jefferies Financial Group maintains a "Buy" rating with a $55.00 target, Zacks upgraded it to "Hold" from "Strong Sell," reflecting varied sentiment.
• Teekay Tankers reported $1.41 EPS for the last quarter, falling short of expectations, with net revenue noted at $154.23 million compared to estimations of $162.67 million.

Teekay Tankers (NYSE:TNK - Get Free Report)'s stock had its "hold (c+)" rating restated by investment analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

TNK has been the topic of a number of other research reports. Jefferies Financial Group restated a "buy" rating and set a $55.00 price target on shares of Teekay Tankers in a research report on Thursday, July 31st. Zacks Research upgraded Teekay Tankers from a "strong sell" rating to a "hold" rating in a research report on Monday, September 8th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $50.67.

Teekay Tankers Price Performance

NYSE TNK traded up $0.18 during trading hours on Wednesday, reaching $49.25. 513,947 shares of the stock traded hands, compared to its average volume of 517,417. The stock has a 50 day simple moving average of $49.10 and a two-hundred day simple moving average of $44.90. Teekay Tankers has a 1 year low of $33.35 and a 1 year high of $60.29. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 6.12 and a beta of -0.07.

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 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 firm had revenue of $154.23 million for the quarter, compared to analysts' expectations of $162.67 million. During the same quarter in the previous year, the business earned $3.11 EPS. On average, sell-side analysts forecast that Teekay Tankers will post 7.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Teekay Tankers by 1.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,238,898 shares of the shipping company's stock worth $47,413,000 after buying an additional 18,222 shares during the period. American Century Companies Inc. grew its stake in shares of Teekay Tankers by 7.5% in the second quarter. American Century Companies Inc. now owns 1,010,177 shares of the shipping company's stock worth $42,145,000 after purchasing an additional 70,578 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Teekay Tankers by 24.6% in the second quarter. Ameriprise Financial Inc. now owns 692,796 shares of the shipping company's stock worth $28,903,000 after purchasing an additional 136,990 shares during the last quarter. Encompass Capital Advisors LLC bought a new stake in shares of Teekay Tankers in the first quarter worth about $17,210,000. Finally, Geode Capital Management LLC grew its stake in shares of Teekay Tankers by 4.0% in the second quarter. Geode Capital Management LLC now owns 361,609 shares of the shipping company's stock worth $15,086,000 after purchasing an additional 14,052 shares during the last quarter. Hedge funds and other 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.

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