Teekay Tankers (NYSE:TNK) Lowered to Hold at StockNews.com

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

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

Teekay Tankers Stock Performance

Shares of Teekay Tankers stock opened at $34.45 on Monday. The firm has a market cap of $1.16 billion, a P/E ratio of 28.01, a P/E/G ratio of 2.47 and a beta of -0.09. The company has a current ratio of 1.82, a quick ratio of 1.45 and a debt-to-equity ratio of 0.53. Teekay Tankers has a 12 month low of $9.89 and a 12 month high of $35.44. The stock’s fifty day moving average price is $30.74 and its 200-day moving average price is $24.26.

Institutional Investors Weigh In On Teekay Tankers

Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in 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 in the last quarter. American Century Companies Inc. boosted its holdings in Teekay Tankers by 27.5% in the first quarter. American Century Companies Inc. now owns 105,429 shares of the shipping company’s stock worth $1,459,000 after acquiring an additional 22,761 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Teekay Tankers in the first quarter worth about $316,000. Martingale Asset Management L P boosted its holdings in Teekay Tankers by 10.1% in the first quarter. Martingale Asset Management L P now owns 23,014 shares of the shipping company’s stock worth $320,000 after acquiring an additional 2,102 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Teekay Tankers by 20.7% in the first quarter. Rhumbline Advisers now owns 32,864 shares of the shipping company’s stock worth $455,000 after acquiring an additional 5,639 shares in the last quarter. Institutional investors own 28.74% of the company’s stock.

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.

Featured Articles

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.