Teekay Tankers (NYSE:TNK) Rating Increased to Strong-Buy at StockNews.com

Teekay Tankers (NYSE:TNK – Get Rating) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.

Other equities research analysts also recently issued research reports about the company. TheStreet raised Teekay Tankers from a “c” rating to a “b” rating in a report on Thursday, February 23rd. Jefferies Financial Group raised their price target on Teekay Tankers from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, February 23rd. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Teekay Tankers presently has an average rating of “Buy” and a consensus target price of $51.00.

Teekay Tankers Stock Down 5.3 %

Shares of NYSE:TNK opened at $41.73 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.70 and a quick ratio of 2.34. The firm has a market capitalization of $1.42 billion, a PE ratio of 6.28, a price-to-earnings-growth ratio of 1.06 and a beta of -0.15. The firm’s 50-day moving average is $41.57 and its two-hundred day moving average is $36.08. Teekay Tankers has a 1 year low of $14.90 and a 1 year high of $48.05.

Teekay Tankers (NYSE:TNK – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The shipping company reported $4.33 EPS 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 for the quarter, compared to analyst estimates of $211.54 million. During the same period in the prior year, the firm posted ($0.74) earnings per share. The firm’s revenue was up 129.1% on a year-over-year basis. Analysts predict that Teekay Tankers will post 11.75 EPS for the current year.

Hedge Funds Weigh In On Teekay Tankers

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC bought a new stake in shares of Teekay Tankers in the 2nd quarter valued at approximately $9,508,000. BlackRock Inc. grew its stake in Teekay Tankers by 35.3% during the 3rd quarter. BlackRock Inc. now owns 1,675,406 shares of the shipping company’s stock worth $46,140,000 after buying an additional 437,348 shares during the last quarter. Marshall Wace LLP bought a new position in Teekay Tankers during the 3rd quarter worth $9,924,000. Two Sigma Advisers LP grew its stake in Teekay Tankers by 195.8% during the 3rd quarter. Two Sigma Advisers LP now owns 480,570 shares of the shipping company’s stock worth $13,235,000 after buying an additional 318,100 shares during the last quarter. Finally, Two Sigma Investments LP grew its stake in Teekay Tankers by 102.2% during the 3rd quarter. Two Sigma Investments LP now owns 536,701 shares of the shipping company’s stock worth $14,781,000 after buying an additional 271,313 shares during the last quarter. 28.74% of the stock is owned by institutional investors and hedge funds.

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.