Teekay Tankers (NYSE:TNK) Sets New 1-Year High at $22.36

Shares of Teekay Tankers Ltd. (NYSE:TNKGet Rating) reached a new 52-week high during trading on Tuesday . The company traded as high as $22.36 and last traded at $22.29, with a volume of 1712 shares traded. The stock had previously closed at $21.91.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TNK shares. StockNews.com lowered shares of Teekay Tankers from a “hold” rating to a “sell” rating in a report on Friday, July 22nd. Clarkson Capital restated a “buy” rating on shares of Teekay Tankers in a research note on Tuesday, June 14th. Finally, Jefferies Financial Group began coverage on shares of Teekay Tankers in a report on Wednesday, July 20th. They set a “buy” rating and a $25.00 target price for the company.

Teekay Tankers Stock Up 1.0 %

The company has a market capitalization of $765.52 million, a P/E ratio of -3.26, a PEG ratio of 146.07 and a beta of -0.03. The firm has a 50-day moving average price of $19.27 and a two-hundred day moving average price of $15.89. The company has a quick ratio of 0.92, a current ratio of 1.26 and a debt-to-equity ratio of 0.64.

Teekay Tankers (NYSE:TNKGet Rating) last issued its earnings results on Thursday, May 12th. The shipping company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.20. Teekay Tankers had a negative return on equity of 15.05% and a negative net margin of 40.96%. The firm had revenue of $174.00 million for the quarter, compared to analysts’ expectations of $61.06 million. During the same quarter last year, the business earned ($0.65) earnings per share. The company’s revenue was up 21.8% compared to the same quarter last year. Equities research analysts anticipate that Teekay Tankers Ltd. will post 0.05 EPS for the current fiscal year.

Institutional Trading of Teekay Tankers

A number of institutional investors have recently modified their holdings of TNK. State Street Corp boosted its position in shares of Teekay Tankers by 41.3% during the 1st quarter. State Street Corp now owns 436,178 shares of the shipping company’s stock valued at $6,037,000 after purchasing an additional 127,480 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Teekay Tankers by 12.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 378,620 shares of the shipping company’s stock worth $5,241,000 after buying an additional 42,928 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Teekay Tankers by 18.4% in the first quarter. JPMorgan Chase & Co. now owns 259,382 shares of the shipping company’s stock worth $3,590,000 after acquiring an additional 40,309 shares during the period. SG Americas Securities LLC bought a new stake in Teekay Tankers during the second quarter valued at $528,000. Finally, Atria Wealth Solutions Inc. bought a new stake in Teekay Tankers during the first quarter worth about $346,000. 28.74% of the stock is currently owned by institutional investors.

Teekay Tankers Company Profile

(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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