Teekay Tankers (NYSE:TNK) Downgraded to Hold at StockNews.com

Teekay Tankers (NYSE:TNK) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

A number of other equities analysts have also commented on the stock. Evercore ISI dropped their price target on shares of Teekay Tankers from $77.00 to $73.00 and set an “outperform” rating on the stock in a research report on Friday, February 23rd. Bank of America upgraded shares of Teekay Tankers from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $56.00 to $72.00 in a report on Friday, January 19th. Finally, Jefferies Financial Group upped their price target on shares of Teekay Tankers from $70.00 to $76.00 and gave the company a “buy” rating in a report on Thursday.

Teekay Tankers Stock Up 9.0 %

Shares of TNK traded up $5.73 during mid-day trading on Thursday, hitting $69.27. 777,227 shares of the company’s stock were exchanged, compared to its average volume of 423,533. The company has a quick ratio of 4.02, a current ratio of 4.40 and a debt-to-equity ratio of 0.08. Teekay Tankers has a twelve month low of $35.00 and a twelve month high of $69.76. The firm has a fifty day moving average of $57.43 and a two-hundred day moving average of $54.82. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 4.66, a P/E/G ratio of 1.41 and a beta of -0.27.

Teekay Tankers (NYSE:TNK) last posted its earnings results on Thursday, February 22nd. The shipping company reported $2.87 earnings per share for the quarter, missing the consensus estimate of $3.68 by ($0.81). The company had revenue of $194.46 million for the quarter, compared to the consensus estimate of $219.93 million. Teekay Tankers had a net margin of 37.65% and a return on equity of 36.16%. On average, sell-side analysts forecast that Teekay Tankers will post 14.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in Teekay Tankers by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,020,473 shares of the shipping company’s stock worth $100,964,000 after buying an additional 54,886 shares in the last quarter. Principal Financial Group Inc. increased its stake in Teekay Tankers by 6.3% in the first quarter. Principal Financial Group Inc. now owns 881,364 shares of the shipping company’s stock valued at $51,480,000 after acquiring an additional 52,476 shares during the period. Acadian Asset Management LLC raised its position in Teekay Tankers by 94.3% in the third quarter. Acadian Asset Management LLC now owns 409,144 shares of the shipping company’s stock worth $17,022,000 after purchasing an additional 198,613 shares in the last quarter. Bridgeway Capital Management LLC lifted its stake in Teekay Tankers by 4.0% during the fourth quarter. Bridgeway Capital Management LLC now owns 300,892 shares of the shipping company’s stock worth $15,036,000 after purchasing an additional 11,605 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in Teekay Tankers by 485.2% during the first quarter. SG Americas Securities LLC now owns 298,492 shares of the shipping company’s stock valued at $17,435,000 after purchasing an additional 247,489 shares in the last quarter. Institutional investors and hedge funds own 52.67% of the company’s stock.

About Teekay Tankers

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.