Jefferies Financial Group Reiterates “Buy” Rating for Teekay Tankers (NYSE:TNK)

Teekay Tankers (NYSE:TNK)‘s stock had its “buy” rating restated by stock analysts at Jefferies Financial Group in a research report issued on Thursday,Benzinga reports. They currently have a $55.00 target price on the shipping company’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 37.05% from the company’s previous close.

Separately, Bank of America reiterated an “underperform” rating and issued a $46.00 price target (down from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Teekay Tankers Stock Down 0.4 %

Shares of NYSE:TNK opened at $40.13 on Thursday. Teekay Tankers has a 12 month low of $36.04 and a 12 month high of $74.20. The company’s fifty day simple moving average is $41.24 and its 200 day simple moving average is $47.74. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 3.55 and a beta of -0.43.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings data on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.01. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.84%. The business had revenue of $163.42 million for the quarter, compared to analyst estimates of $158.26 million. Research analysts expect that Teekay Tankers will post 7.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Teekay Tankers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC increased its stake in shares of Teekay Tankers by 96.8% during the 3rd quarter. CWM LLC now owns 980 shares of the shipping company’s stock worth $57,000 after purchasing an additional 482 shares during the last quarter. R Squared Ltd acquired a new position in shares of Teekay Tankers during the 4th quarter worth about $41,000. Meeder Asset Management Inc. acquired a new position in shares of Teekay Tankers during the 4th quarter worth about $77,000. Millburn Ridgefield Corp acquired a new position in shares of Teekay Tankers during the 3rd quarter worth about $132,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Teekay Tankers during the 4th quarter worth about $132,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

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.