Jefferies Financial Group Reaffirms “Buy” Rating for Teekay Tankers (NYSE:TNK)

Teekay Tankers (NYSE:TNK)‘s stock had its “buy” rating restated by Jefferies Financial Group in a research note issued on Thursday,Benzinga reports. They presently have a $55.00 price objective on the shipping company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 35.00% from the stock’s current price.

Separately, Bank of America reissued an “underperform” rating and set a $46.00 target price (down from $51.00) on shares of Teekay Tankers in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Teekay Tankers has an average rating of “Moderate Buy” and a consensus price target of $62.00.

Teekay Tankers Trading Down 0.4 %

TNK opened at $40.74 on Thursday. The business has a 50 day moving average of $41.15 and a 200-day moving average of $47.90. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 3.34 and a beta of -0.43. Teekay Tankers has a 1-year low of $36.04 and a 1-year high of $74.20.

Teekay Tankers (NYSE:TNK) last released its earnings results on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.49 by $0.01. Teekay Tankers had a net margin of 35.44% and a return on equity of 24.27%. Equities analysts predict that Teekay Tankers will post 10.44 EPS for the current year.

Institutional Investors Weigh In On Teekay Tankers

Large investors have recently bought and sold shares of the business. CWM LLC raised its position in Teekay Tankers by 96.8% in the 3rd quarter. CWM LLC now owns 980 shares of the shipping company’s stock valued at $57,000 after purchasing an additional 482 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Teekay Tankers by 5.3% in the third quarter. Sequoia Financial Advisors LLC now owns 5,529 shares of the shipping company’s stock valued at $322,000 after buying an additional 277 shares in the last quarter. Custom Index Systems LLC raised its holdings in shares of Teekay Tankers by 4.0% in the third quarter. Custom Index Systems LLC now owns 5,646 shares of the shipping company’s stock valued at $329,000 after buying an additional 216 shares during the last quarter. US Bancorp DE acquired a new position in Teekay Tankers during the 3rd quarter worth about $231,000. Finally, Principal Financial Group Inc. grew its holdings in Teekay Tankers by 9.7% during the 3rd quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company’s stock worth $52,815,000 after acquiring an additional 80,217 shares during the last quarter. 52.67% of the stock is currently owned by institutional investors.

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.