Teekay Tankers Ltd. (TNK) Given Average Recommendation of “Hold” by Brokerages
Teekay Tankers Ltd. (NYSE:TNK) has been assigned a consensus rating of “Hold” from the nine analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $1.52.
Several equities analysts recently commented on TNK shares. ValuEngine raised Teekay Tankers from a “hold” rating to a “buy” rating in a report on Thursday, June 21st. Zacks Investment Research raised Teekay Tankers from a “sell” rating to a “hold” rating in a report on Thursday, June 28th. Jefferies Financial Group started coverage on Teekay Tankers in a report on Monday, October 1st. They issued a “hold” rating and a $1.00 target price on the stock. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Teekay Tankers in a report on Thursday, August 23rd.
Shares of NYSE TNK traded down $0.05 during mid-day trading on Friday, hitting $1.03. The company had a trading volume of 5,565 shares, compared to its average volume of 2,134,125. The stock has a market cap of $295.41 million, a P/E ratio of -9.73 and a beta of 1.87. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.96. Teekay Tankers has a 1-year low of $0.94 and a 1-year high of $1.95.
Large investors have recently bought and sold shares of the stock. Banco de Sabadell S.A purchased a new position in Teekay Tankers in the first quarter valued at $181,000. Wells Fargo & Company MN grew its holdings in shares of Teekay Tankers by 41.4% during the first quarter. Wells Fargo & Company MN now owns 344,134 shares of the shipping company’s stock worth $409,000 after purchasing an additional 100,748 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Teekay Tankers during the second quarter worth about $583,000. Bienville Capital Management LLC purchased a new position in shares of Teekay Tankers during the second quarter worth about $1,026,000. Finally, Guggenheim Capital LLC grew its holdings in shares of Teekay Tankers by 30.6% during the first quarter. Guggenheim Capital LLC now owns 1,837,326 shares of the shipping company’s stock worth $2,186,000 after purchasing an additional 430,659 shares during the last quarter. 25.72% of the stock is currently owned by hedge funds and other institutional investors.
Teekay Tankers Company Profile
Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company operates through two segments, Conventional Tanker and Ship-To-Ship Transfer. It is involved in the marine transportation of crude oil and refined petroleum products through the operation of its oil and product tankers.
Further Reading: Marijuana Stocks Investing Considerations
Receive News & Ratings for Teekay Tankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teekay Tankers and related companies with MarketBeat.com's FREE daily email newsletter.