Teekay Tankers (TNK) PT Lowered to $1.30

Teekay Tankers (NYSE:TNK) had its target price reduced by investment analysts at Morgan Stanley from $2.00 to $1.30 in a note issued to investors on Monday. The firm presently has an “equal weight” rating on the shipping company’s stock. Morgan Stanley’s price target points to a potential upside of 14.04% from the stock’s current price.

A number of other equities analysts have also weighed in on TNK. Seaport Global Securities set a $3.00 target price on shares of Teekay Tankers and gave the stock a “buy” rating in a research report on Thursday, January 4th. Bank of America cut their target price on shares of Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating for the company in a research report on Friday, November 10th. Zacks Investment Research upgraded shares of Teekay Tankers from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Finally, ValuEngine lowered shares of Teekay Tankers from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $1.82.

Teekay Tankers (NYSE:TNK) opened at $1.14 on Monday. The firm has a market cap of $311.11, a PE ratio of -4.07 and a beta of 2.18. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.73. Teekay Tankers has a 1 year low of $1.10 and a 1 year high of $2.70.

A number of large investors have recently modified their holdings of the business. Nationwide Fund Advisors boosted its position in Teekay Tankers by 10.4% during the second quarter. Nationwide Fund Advisors now owns 79,553 shares of the shipping company’s stock worth $150,000 after purchasing an additional 7,500 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Teekay Tankers by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 393,015 shares of the shipping company’s stock worth $739,000 after buying an additional 9,066 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Teekay Tankers by 4.1% in the second quarter. Wells Fargo & Company MN now owns 237,561 shares of the shipping company’s stock worth $446,000 after buying an additional 9,272 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Teekay Tankers by 21.8% in the second quarter. Cubist Systematic Strategies LLC now owns 53,279 shares of the shipping company’s stock worth $100,000 after buying an additional 9,526 shares in the last quarter. Finally, Teachers Advisors LLC lifted its holdings in shares of Teekay Tankers by 5.7% in the second quarter. Teachers Advisors LLC now owns 229,577 shares of the shipping company’s stock worth $432,000 after buying an additional 12,377 shares in the last quarter. Hedge funds and other institutional investors own 28.64% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This news story was originally posted by Week Herald and is the property of of Week Herald. If you are viewing this news story on another publication, it was stolen and republished in violation of United States and international copyright laws. The correct version of this news story can be viewed at https://weekherald.com/2018/02/14/teekay-tankers-tnk-pt-lowered-to-1-30.html.

Teekay Tankers Company Profile

Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Company’s business is to own crude oil and product tankers. The Company has two segments: conventional tanker and ship-to-ship transfer. Its conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts.

Receive News & Ratings for Teekay Tankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teekay Tankers and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply