StockNews.com upgraded shares of Teekay Tankers (NYSE:TNK – Get Rating) from a hold rating to a buy rating in a report issued on Monday.
Several other research analysts have also recently issued reports on the company. Jefferies Financial Group upped their price target on Teekay Tankers from $44.00 to $51.00 and gave the company a buy rating in a report on Thursday, February 23rd. TheStreet raised Teekay Tankers from a c rating to a b rating in a report on Thursday. Finally, Bank of America upgraded shares of Teekay Tankers from an underperform rating to a neutral rating in a research report on Thursday, November 3rd. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $51.00.
Teekay Tankers Stock Performance
Shares of Teekay Tankers stock opened at $43.95 on Monday. The business has a fifty day simple moving average of $32.29 and a 200-day simple moving average of $30.68. Teekay Tankers has a fifty-two week low of $11.90 and a fifty-two week high of $44.48. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.34 and a current ratio of 2.70.
Institutional Investors Weigh In On Teekay Tankers
A number of institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in shares of 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 during the last quarter. American Century Companies Inc. lifted its holdings in shares of Teekay Tankers by 27.5% during the 1st quarter. American Century Companies Inc. now owns 105,429 shares of the shipping company’s stock valued at $1,459,000 after buying an additional 22,761 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Teekay Tankers by 20.7% in the 1st quarter. Rhumbline Advisers now owns 32,864 shares of the shipping company’s stock valued at $455,000 after buying an additional 5,639 shares in the last quarter. Vanguard Group Inc. increased its holdings in Teekay Tankers by 2.5% in the first quarter. Vanguard Group Inc. now owns 98,450 shares of the shipping company’s stock worth $1,363,000 after buying an additional 2,394 shares during the last quarter. Finally, NewEdge Advisors LLC bought a new position in Teekay Tankers during the first quarter valued at approximately $159,000. Institutional investors and hedge funds own 28.74% of the company’s stock.
About Teekay Tankers
Teekay Tankers Ltd. engages in the provision of crude oil and refined petroleum products through the operation of its oil and product tankers. It operates through the Tanker and Ship-to-Ship (STS) Transfer segment. The Tanker segment includes the operations of all the tankers, including those employed on full service lightering contracts.
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