Teekay Tankers (NYSE:TNK – Get Free Report) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.
Several other equities analysts have also recently commented on the stock. Bank of America boosted their target price on shares of Teekay Tankers from $69.00 to $75.00 and gave the company an “underperform” rating in a research report on Wednesday. Wall Street Zen upgraded shares of Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. DNB Markets cut shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Teekay Tankers in a research report on Friday, March 27th. Finally, Dnb Carnegie cut shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.
Check Out Our Latest Stock Report on Teekay Tankers
Teekay Tankers Trading Down 0.7%
Teekay Tankers (NYSE:TNK – Get Free Report) last issued its earnings results on Tuesday, March 31st. The shipping company reported $3.69 EPS for the quarter. Teekay Tankers had a net margin of 42.60% and a return on equity of 16.34%. On average, research analysts predict that Teekay Tankers will post 13.75 EPS for the current fiscal year.
Institutional Investors Weigh In On Teekay Tankers
A number of institutional investors have recently added to or reduced their stakes in TNK. Fearnley Asset Management AS bought a new stake in Teekay Tankers during the 4th quarter worth approximately $17,890,000. Mizuho Markets Americas LLC bought a new stake in Teekay Tankers during the 1st quarter worth approximately $18,330,000. Arrowstreet Capital Limited Partnership grew its holdings in Teekay Tankers by 367.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 217,493 shares of the shipping company’s stock worth $15,947,000 after acquiring an additional 170,940 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Teekay Tankers by 24.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 692,796 shares of the shipping company’s stock worth $28,903,000 after acquiring an additional 136,990 shares during the last quarter. Finally, Man Group plc bought a new stake in Teekay Tankers during the 4th quarter worth approximately $5,264,000. 52.67% of the stock is owned by institutional investors.
Teekay Tankers Company Profile
Teekay Tankers Ltd is an oil tanker shipping company that owns and operates a fleet of modern crude oil and petroleum product tankers. Listed on the New York Stock Exchange under the ticker symbol TNK, the company provides seaborne transportation services for crude oil, refined petroleum products and petrochemicals. Its operations range across major global trade lanes, offering a mix of spot market voyages and time-charter contracts to a diverse customer base in the oil and energy sector.
The company’s fleet includes a mix of Medium Range (MR), Long Range (LR1 and LR2), Suezmax and Aframax tankers designed to meet various cargo specifications and port restrictions.
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