Teekay Tankers (NYSE:TNK) Downgraded by StockNews.com

StockNews.com lowered shares of Teekay Tankers (NYSE:TNKGet Rating) from a buy rating to a hold rating in a report issued on Monday morning.

TNK has been the subject of several other reports. Jefferies Financial Group lifted their price objective on Teekay Tankers from $35.00 to $40.00 and gave the stock a buy rating in a research report on Thursday, November 3rd. Bank of America upgraded Teekay Tankers from an underperform rating to a neutral rating in a research report on Thursday, November 3rd. Finally, TheStreet upgraded Teekay Tankers from a d+ rating to a c- rating in a research report on Thursday, August 4th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Teekay Tankers currently has an average rating of Moderate Buy and a consensus target price of $40.00.

Teekay Tankers Trading Down 5.0 %

Shares of Teekay Tankers stock opened at $32.53 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.82 and a quick ratio of 1.45. Teekay Tankers has a 1 year low of $9.89 and a 1 year high of $35.44. The company has a market capitalization of $1.10 billion, a P/E ratio of 26.45, a P/E/G ratio of 2.31 and a beta of -0.09. The business has a 50 day moving average price of $31.03 and a 200 day moving average price of $24.49.

Institutional Trading of Teekay Tankers

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ellevest Inc. grew its stake in Teekay Tankers by 1,597.3% in the 3rd quarter. Ellevest Inc. now owns 1,239 shares of the shipping company’s stock worth $34,000 after acquiring an additional 1,166 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Teekay Tankers by 127.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,401 shares of the shipping company’s stock worth $38,000 after acquiring an additional 785 shares during the period. Amalgamated Bank purchased a new stake in Teekay Tankers in the 1st quarter worth approximately $40,000. USA Financial Portformulas Corp purchased a new stake in Teekay Tankers in the 3rd quarter worth approximately $107,000. Finally, Alpha Paradigm Partners LLC purchased a new stake in Teekay Tankers in the 3rd quarter worth approximately $152,000. 28.74% of the stock is owned by hedge funds and other institutional investors.

About Teekay Tankers

(Get Rating)

Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; and offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products.

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