Teekay Tankers (NYSE:TNK) Lifted to “Buy” at StockNews.com

Teekay Tankers (NYSE:TNK) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

Several other brokerages have also recently commented on TNK. Evercore ISI reduced their target price on Teekay Tankers from $77.00 to $73.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd. Bank of America increased their price objective on shares of Teekay Tankers from $66.00 to $79.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Jefferies Financial Group lifted their target price on shares of Teekay Tankers from $70.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, May 9th.

Teekay Tankers Stock Performance

NYSE TNK opened at $71.83 on Friday. Teekay Tankers has a twelve month low of $35.00 and a twelve month high of $72.76. The stock has a market cap of $2.46 billion, a PE ratio of 5.08, a PEG ratio of 1.64 and a beta of -0.27. The firm has a 50-day simple moving average of $59.40 and a 200 day simple moving average of $55.84.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Thursday, February 22nd. The shipping company reported $2.87 EPS for the quarter, missing the consensus estimate of $3.68 by ($0.81). Teekay Tankers had a net margin of 37.39% and a return on equity of 30.73%. The firm had revenue of $194.46 million during the quarter, compared to analyst estimates of $219.93 million. Research analysts forecast that Teekay Tankers will post 14.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Teekay Tankers

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bleakley Financial Group LLC lifted its holdings in Teekay Tankers by 3.6% during the 4th quarter. Bleakley Financial Group LLC now owns 7,396 shares of the shipping company’s stock valued at $370,000 after purchasing an additional 255 shares during the last quarter. Simplicity Solutions LLC raised its stake in shares of Teekay Tankers by 3.6% in the fourth quarter. Simplicity Solutions LLC now owns 7,396 shares of the shipping company’s stock valued at $370,000 after acquiring an additional 255 shares during the last quarter. EntryPoint Capital LLC boosted its holdings in shares of Teekay Tankers by 76.5% in the 1st quarter. EntryPoint Capital LLC now owns 872 shares of the shipping company’s stock worth $51,000 after acquiring an additional 378 shares in the last quarter. U S Global Investors Inc. grew its position in Teekay Tankers by 12.0% during the 1st quarter. U S Global Investors Inc. now owns 4,386 shares of the shipping company’s stock worth $256,000 after acquiring an additional 469 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in Teekay Tankers by 2.3% during the 4th quarter. Franklin Resources Inc. now owns 23,661 shares of the shipping company’s stock valued at $1,182,000 after purchasing an additional 542 shares in the last quarter. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Company Profile

Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services.