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Teekay Tankers Ltd. (TNK) Given Consensus Rating of “Hold” by Brokerages

Teekay Tankers Ltd. (NYSE:TNK) has earned an average rating of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $1.46.

A number of research firms have issued reports on TNK. Zacks Investment Research raised shares of Teekay Tankers from a “hold” rating to a “buy” rating and set a $1.25 price target for the company in a research report on Wednesday, November 21st. ValuEngine lowered shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Wednesday, November 21st. Wells Fargo & Co cut their target price on shares of Teekay Tankers from $1.65 to $1.40 and set an “outperform” rating for the company in a report on Tuesday, November 20th. DNB Markets lowered shares of Teekay Tankers from a “buy” rating to a “hold” rating in a report on Friday, November 30th. Finally, Jefferies Financial Group initiated coverage on shares of Teekay Tankers in a report on Monday, October 1st. They set a “hold” rating and a $1.00 target price for the company.

Teekay Tankers has a 1 year low of $0.87 and a 1 year high of $1.43. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $255.88 million, a PE ratio of -8.64 and a beta of 1.43.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Thursday, November 15th. The shipping company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. Teekay Tankers had a negative net margin of 10.61% and a negative return on equity of 7.71%. The company had revenue of $92.87 million during the quarter, compared to analyst estimates of $82.95 million. As a group, analysts predict that Teekay Tankers will post -0.25 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Teekay Tankers by 73.5% during the 3rd quarter. BlackRock Inc. now owns 16,771,399 shares of the shipping company’s stock valued at $16,567,000 after purchasing an additional 7,102,870 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Teekay Tankers by 24.0% during the 3rd quarter. Renaissance Technologies LLC now owns 2,733,010 shares of the shipping company’s stock valued at $2,700,000 after purchasing an additional 529,500 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Teekay Tankers by 20.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 556,705 shares of the shipping company’s stock valued at $550,000 after purchasing an additional 95,879 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Teekay Tankers during the 2nd quarter valued at approximately $583,000. Finally, Panagora Asset Management Inc. purchased a new position in shares of Teekay Tankers during the 3rd quarter valued at approximately $134,000. 26.08% of the stock is owned by hedge funds and other institutional investors.
Source: MarketBeat

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