Teekay Tankers (NYSE:TNK) Receives “Buy” Rating from Jefferies Financial Group

Teekay Tankers (NYSE:TNK)‘s stock had its “buy” rating restated by equities researchers at Jefferies Financial Group in a report issued on Thursday,Benzinga reports. They presently have a $55.00 target price on the shipping company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 29.23% from the company’s previous close.

Separately, Evercore ISI reduced their price objective on shares of Teekay Tankers from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Teekay Tankers currently has an average rating of “Moderate Buy” and an average target price of $50.67.

Teekay Tankers Price Performance

Shares of NYSE:TNK opened at $42.56 on Thursday. Teekay Tankers has a one year low of $33.35 and a one year high of $62.45. The company has a 50 day moving average of $44.37 and a 200-day moving average of $41.92. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 5.29 and a beta of -0.09.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.18). Teekay Tankers had a return on equity of 11.48% and a net margin of 28.94%. The business had revenue of $154.23 million for the quarter, compared to analyst estimates of $162.67 million. During the same quarter in the prior year, the firm earned $3.11 EPS. Equities research analysts anticipate that Teekay Tankers will post 7.13 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TNK. New Age Alpha Advisors LLC bought a new position in Teekay Tankers during the 4th quarter worth approximately $132,000. O Shaughnessy Asset Management LLC bought a new position in Teekay Tankers in the fourth quarter valued at approximately $1,632,000. Franklin Resources Inc. bought a new position in Teekay Tankers in the fourth quarter valued at approximately $5,131,000. Geode Capital Management LLC lifted its stake in Teekay Tankers by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 320,965 shares of the shipping company’s stock valued at $12,771,000 after buying an additional 2,978 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in Teekay Tankers in the fourth quarter valued at approximately $966,000. Institutional investors own 52.67% of the company’s stock.

About Teekay Tankers

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.