Teekay Tankers Ltd. (NYSE:TNK) has earned an average rating of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $1.65.

A number of analysts recently commented on the company. Wells Fargo & Co reiterated a “buy” rating on shares of Teekay Tankers in a research report on Thursday, August 23rd. ValuEngine cut Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Zacks Investment Research upgraded Teekay Tankers from a “sell” rating to a “hold” rating in a research report on Thursday, June 28th. Finally, Morgan Stanley upped their price objective on Teekay Tankers from $1.10 to $1.30 and gave the company an “equal weight” rating in a research report on Wednesday, June 13th.

Teekay Tankers stock traded down $0.02 during mid-day trading on Wednesday, hitting $1.01. The company had a trading volume of 29,025 shares, compared to its average volume of 810,691. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.96. Teekay Tankers has a 12 month low of $0.94 and a 12 month high of $1.95. The company has a market capitalization of $276.61 million, a price-to-earnings ratio of -9.18 and a beta of 1.86.

Teekay Tankers (NYSE:TNK) last released its earnings results on Thursday, August 2nd. The shipping company reported ($0.11) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.11). The business had revenue of $84.70 million for the quarter, compared to the consensus estimate of $77.53 million. Teekay Tankers had a negative return on equity of 7.43% and a negative net margin of 13.20%. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.04) earnings per share. equities research analysts predict that Teekay Tankers will post -0.35 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC purchased a new stake in Teekay Tankers in the second quarter worth about $583,000. Renaissance Technologies LLC increased its position in Teekay Tankers by 51.6% in the second quarter. Renaissance Technologies LLC now owns 2,203,510 shares of the shipping company’s stock worth $2,578,000 after buying an additional 750,400 shares in the last quarter. Bienville Capital Management LLC purchased a new stake in Teekay Tankers in the second quarter worth about $1,026,000. Banco de Sabadell S.A purchased a new stake in Teekay Tankers in the first quarter worth about $181,000. Finally, Guggenheim Capital LLC increased its position in Teekay Tankers by 30.6% in the first quarter. Guggenheim Capital LLC now owns 1,837,326 shares of the shipping company’s stock worth $2,186,000 after buying an additional 430,659 shares in the last quarter. Institutional investors and hedge funds own 25.72% of the company’s stock.

Teekay Tankers Company Profile

Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company operates through two segments, Conventional Tanker and Ship-To-Ship Transfer. It is involved in the marine transportation of crude oil and refined petroleum products through the operation of its oil and product tankers.

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Analyst Recommendations for Teekay Tankers (NYSE:TNK)

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