Evercore ISI Issues Pessimistic Forecast for Teekay Tankers (NYSE:TNK) Stock Price

Teekay Tankers (NYSE:TNK) had its target price lowered by investment analysts at Evercore ISI from $53.00 to $51.00 in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm presently has an “outperform” rating on the shipping company’s stock. Evercore ISI’s price objective would indicate a potential upside of 29.38% from the company’s previous close.

Separately, Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 target price on shares of Teekay Tankers in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.67.

Teekay Tankers Stock Up 3.6 %

Teekay Tankers stock opened at $39.42 on Tuesday. The business’s 50-day simple moving average is $38.25 and its 200 day simple moving average is $42.15. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 3.48 and a beta of -0.16. Teekay Tankers has a 12-month low of $33.35 and a 12-month high of $74.20.

Teekay Tankers (NYSE:TNK) last issued its earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.01. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. The company had revenue of $163.42 million for the quarter, compared to analyst estimates of $158.26 million. As a group, sell-side analysts expect that Teekay Tankers will post 7.13 EPS for the current year.

Hedge Funds Weigh In On Teekay Tankers

Several institutional investors and hedge funds have recently made changes to their positions in the company. R Squared Ltd bought a new position in shares of Teekay Tankers during the 4th quarter valued at about $41,000. Blue Trust Inc. raised its holdings in Teekay Tankers by 49.3% during the 1st quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company’s stock worth $66,000 after buying an additional 568 shares during the period. Meeder Asset Management Inc. bought a new position in Teekay Tankers in the fourth quarter valued at approximately $77,000. New Age Alpha Advisors LLC acquired a new position in shares of Teekay Tankers in the fourth quarter valued at approximately $132,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of Teekay Tankers in the fourth quarter valued at approximately $143,000. Institutional investors and hedge funds own 52.67% of the company’s stock.

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.