Jefferies Financial Group Reiterates “Buy” Rating for Teekay Tankers (NYSE:TNK)

Teekay Tankers (NYSE:TNK)‘s stock had its “buy” rating restated by stock analysts at Jefferies Financial Group in a research 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 objective would suggest a potential upside of 21.49% from the stock’s current price.

Separately, Evercore ISI reduced their price target on shares of Teekay Tankers from $53.00 to $51.00 and set an “outperform” rating for the company 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 issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.67.

Teekay Tankers Stock Performance

Shares of NYSE TNK opened at $45.27 on Thursday. The stock has a fifty day moving average of $39.25 and a 200-day moving average of $41.05. The stock has a market cap of $1.55 billion, a PE ratio of 4.00 and a beta of -0.10. Teekay Tankers has a fifty-two week low of $33.35 and a fifty-two week high of $74.20.

Teekay Tankers (NYSE:TNK) last announced 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 firm 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% compared to the same quarter last year. During the same period in the previous year, the company posted $4.23 earnings per share. On average, sell-side analysts predict that Teekay Tankers will post 7.13 EPS for the current year.

Institutional Trading of Teekay Tankers

Several institutional investors and hedge funds have recently made changes to their positions in the stock. R Squared Ltd bought a new position in Teekay Tankers in the fourth quarter valued at $41,000. Blue Trust Inc. raised its holdings 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 valued at $66,000 after buying an additional 568 shares in the last quarter. TD Private Client Wealth LLC boosted its stake 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 worth $71,000 after buying an additional 304 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Teekay Tankers during the fourth quarter valued at approximately $77,000. Finally, New Age Alpha Advisors LLC bought a new position in Teekay Tankers during the fourth quarter valued at approximately $132,000. 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.