Teekay Tankers (NYSE:TNK) Upgraded to “Buy” by StockNews.com

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.

Teekay Tankers (NYSE:TNK – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The shipping company reported $4.33 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.82. Teekay Tankers had a net margin of 21.55% and a return on equity of 23.65%. The company had revenue of $367.30 million during the quarter, compared to analyst estimates of $211.54 million. During the same quarter last year, the firm posted ($0.74) EPS. The business’s revenue for the quarter was up 129.1% on a year-over-year basis. Research analysts predict that Teekay Tankers will post 11.32 earnings per share for the current year.

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

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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.