Teekay Tankers (NYSE:TNK) Reaches New 52-Week High at $31.83

Teekay Tankers Ltd. (NYSE:TNKGet Rating)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $31.83 and last traded at $31.20, with a volume of 4324 shares trading hands. The stock had previously closed at $31.01.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TNK. Jefferies Financial Group lifted their price target on Teekay Tankers from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. StockNews.com upgraded Teekay Tankers from a “sell” rating to a “hold” rating in a report on Friday, August 5th. TheStreet upgraded Teekay Tankers from a “d+” rating to a “c-” rating in a report on Thursday, August 4th. Finally, Clarkson Capital reiterated a “buy” rating on shares of Teekay Tankers in a report on Tuesday, June 14th.

Teekay Tankers Trading Down 2.0 %

The company has a current ratio of 1.63, a quick ratio of 1.19 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -13.52, a PEG ratio of 5.12 and a beta of -0.09. The company has a fifty day moving average of $24.11 and a 200-day moving average of $19.34.

Teekay Tankers (NYSE:TNKGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The shipping company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.43. The company had revenue of $242.40 million for the quarter, compared to analysts’ expectations of $109.04 million. Teekay Tankers had a negative return on equity of 7.48% and a negative net margin of 11.15%. Teekay Tankers’s revenue was up 96.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.23) EPS. As a group, equities research analysts anticipate that Teekay Tankers Ltd. will post 2.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TNK. NewEdge Advisors LLC purchased a new position in shares of Teekay Tankers in the 1st quarter valued at about $159,000. Occudo Quantitative Strategies LP acquired a new position in Teekay Tankers during the second quarter worth approximately $789,000. PDT Partners LLC increased its position in Teekay Tankers by 498.1% during the second quarter. PDT Partners LLC now owns 79,755 shares of the shipping company’s stock worth $1,406,000 after buying an additional 66,420 shares during the period. Quantbot Technologies LP increased its holdings in shares of Teekay Tankers by 1,662.3% in the second quarter. Quantbot Technologies LP now owns 23,932 shares of the shipping company’s stock valued at $421,000 after purchasing an additional 22,574 shares during the period. Finally, Trexquant Investment LP acquired a new position in shares of Teekay Tankers in the second quarter valued at approximately $413,000. 28.74% of the stock is currently owned by institutional investors and hedge funds.

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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