Teekay Tankers Ltd. (NYSE:TNK) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Teekay Tankers Ltd. (NYSE:TNK) have been given an average recommendation of “Buy” by the five analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $65.00.

Several brokerages have recently commented on TNK. Evercore ISI raised their price objective on shares of Teekay Tankers from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Wall Street Zen raised shares of Teekay Tankers from a “hold” rating to a “buy” rating in a research note on Saturday. Jefferies Financial Group raised their price target on shares of Teekay Tankers from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Zacks Research downgraded shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, Clarkson Capital upgraded shares of Teekay Tankers to a “strong-buy” rating in a report on Wednesday, October 8th.

Teekay Tankers Trading Up 0.6%

TNK stock opened at $64.57 on Friday. The firm has a market cap of $2.23 billion, a PE ratio of 7.17 and a beta of -0.25. The stock has a 50-day moving average price of $57.07 and a 200-day moving average price of $53.50. Teekay Tankers has a 1-year low of $33.35 and a 1-year high of $65.48.

Teekay Tankers (NYSE:TNK) last announced its earnings results on Wednesday, October 29th. The shipping company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.50 by $0.04. The company had revenue of $229.02 million for the quarter, compared to analyst estimates of $133.65 million. Teekay Tankers had a return on equity of 10.63% and a net margin of 32.87%.The firm’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.23 EPS. On average, analysts forecast that Teekay Tankers will post 7.13 earnings per share for the current year.

Institutional Investors Weigh In On Teekay Tankers

Hedge funds have recently added to or reduced their stakes in the company. CWA Asset Management Group LLC increased its position in shares of Teekay Tankers by 1.5% during the fourth quarter. CWA Asset Management Group LLC now owns 11,626 shares of the shipping company’s stock valued at $621,000 after acquiring an additional 176 shares during the last quarter. Glenorchy Capital Ltd grew its stake in Teekay Tankers by 0.5% in the 4th quarter. Glenorchy Capital Ltd now owns 36,937 shares of the shipping company’s stock valued at $1,973,000 after purchasing an additional 198 shares during the period. CWM LLC grew its stake in Teekay Tankers by 2.4% in the 4th quarter. CWM LLC now owns 9,171 shares of the shipping company’s stock valued at $490,000 after purchasing an additional 216 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Teekay Tankers by 5.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,374 shares of the shipping company’s stock valued at $341,000 after purchasing an additional 349 shares during the last quarter. Finally, Unison Advisors LLC raised its stake in shares of Teekay Tankers by 2.8% during the 3rd quarter. Unison Advisors LLC now owns 13,212 shares of the shipping company’s stock worth $668,000 after purchasing an additional 357 shares during the period. Institutional investors and hedge funds own 52.67% of the company’s stock.

About Teekay Tankers

Teekay Tankers Ltd is an oil tanker shipping company that owns and operates a fleet of modern crude oil and petroleum product tankers. Listed on the New York Stock Exchange under the ticker symbol TNK, the company provides seaborne transportation services for crude oil, refined petroleum products and petrochemicals. Its operations range across major global trade lanes, offering a mix of spot market voyages and time-charter contracts to a diverse customer base in the oil and energy sector.

The company’s fleet includes a mix of Medium Range (MR), Long Range (LR1 and LR2), Suezmax and Aframax tankers designed to meet various cargo specifications and port restrictions.