Teekay Tankers Ltd. (NYSE:TNK)’s share price traded up 1.5% during mid-day trading on Monday . The stock traded as high as $1.35 and last traded at $1.30. 63,882 shares traded hands during trading, a decline of 96% from the average session volume of 1,556,083 shares. The stock had previously closed at $1.32.
Several equities analysts have recently issued reports on the stock. Wells Fargo & Co upgraded shares of Teekay Tankers from a “market perform” rating to an “outperform” rating in a report on Monday, June 18th. Zacks Investment Research lowered shares of Teekay Tankers from a “hold” rating to a “sell” rating in a report on Thursday, June 21st. ValuEngine upgraded shares of Teekay Tankers from a “hold” rating to a “buy” rating in a report on Thursday, June 21st. Morgan Stanley lifted their target price on shares of Teekay Tankers from $1.10 to $1.30 and gave the company an “equal weight” rating in a report on Wednesday, June 13th. Finally, DNB Markets upgraded shares of Teekay Tankers from a “hold” rating to a “buy” rating in a report on Tuesday, March 6th. Three analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $1.72.
The firm has a market capitalization of $351.81 million, a price-to-earnings ratio of -11.36 and a beta of 2.00. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.95.
Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Thursday, May 17th. The shipping company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). Teekay Tankers had a negative net margin of 17.16% and a negative return on equity of 5.24%. The company had revenue of $88.47 million during the quarter, compared to analyst estimates of $83.84 million. During the same period in the previous year, the business earned $0.04 EPS. The firm’s revenue for the quarter was down 17.1% on a year-over-year basis. analysts forecast that Teekay Tankers Ltd. will post -0.32 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mangrove Partners purchased a new position in Teekay Tankers during the 4th quarter valued at about $133,000. MetLife Investment Advisors LLC acquired a new position in shares of Teekay Tankers during the fourth quarter worth approximately $141,000. Banco de Sabadell S.A acquired a new position in shares of Teekay Tankers during the first quarter worth approximately $181,000. American International Group Inc. lifted its holdings in shares of Teekay Tankers by 67.6% during the fourth quarter. American International Group Inc. now owns 137,048 shares of the shipping company’s stock worth $192,000 after buying an additional 55,258 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Teekay Tankers by 47.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 159,954 shares of the shipping company’s stock worth $224,000 after buying an additional 51,244 shares during the last quarter. Institutional investors own 29.99% of the company’s stock.
About Teekay Tankers
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.
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