Teekay Tankers (NYSE:TNK) Price Target Lowered to $51.00 at Evercore ISI

Teekay Tankers (NYSE:TNK) had its price target cut by equities researchers at Evercore ISI from $53.00 to $51.00 in a research note issued on Tuesday, MarketBeat reports. The firm presently has an “outperform” rating on the shipping company’s stock. Evercore ISI’s price target indicates a potential upside of 29.38% from the stock’s previous close.

Separately, Jefferies Financial Group restated a “buy” rating and issued a $55.00 price objective on shares of Teekay Tankers in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Teekay Tankers has an average rating of “Moderate Buy” and an average target price of $50.67.

Teekay Tankers Trading Up 3.6 %

Shares of TNK stock opened at $39.42 on Tuesday. The firm has a market capitalization of $1.35 billion, a P/E ratio of 3.48 and a beta of -0.16. Teekay Tankers has a 1 year low of $33.35 and a 1 year high of $74.20. The firm’s fifty day moving average price is $38.25 and its two-hundred day moving average price is $42.15.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings data on Wednesday, February 19th. The shipping company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.01. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. The company had revenue of $163.42 million for the quarter, compared to analyst estimates of $158.26 million. As a group, equities research analysts forecast that Teekay Tankers will post 7.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. R Squared Ltd acquired a new stake in Teekay Tankers during the fourth quarter worth approximately $41,000. Blue Trust Inc. increased its stake in shares of Teekay Tankers by 49.3% during the first quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company’s stock worth $66,000 after purchasing an additional 568 shares during the period. Meeder Asset Management Inc. acquired a new stake in Teekay Tankers during the 4th quarter worth approximately $77,000. New Age Alpha Advisors LLC acquired a new position in Teekay Tankers in the 4th quarter valued at $132,000. Finally, BNP Paribas Financial Markets bought a new position in Teekay Tankers during the 4th quarter worth $143,000. Institutional investors and hedge funds own 52.67% of the company’s stock.

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.