Teekay Tankers (NYSE:TNK) Price Target Cut to $51.00 by Analysts at Evercore ISI

Teekay Tankers (NYSE:TNK) had its price target reduced by equities research analysts at Evercore ISI from $53.00 to $51.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the shipping company’s stock. Evercore ISI’s price target would indicate a potential upside of 30.47% from the stock’s current price.

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

Teekay Tankers Trading Down 1.9 %

NYSE TNK opened at $39.09 on Tuesday. The firm has a market capitalization of $1.34 billion, a P/E ratio of 3.45 and a beta of -0.16. The business has a fifty day simple moving average of $38.33 and a 200 day simple moving average of $42.20. Teekay Tankers has a 12 month low of $33.35 and a 12 month high of $74.20.

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

Institutional Trading of Teekay Tankers

A number of institutional investors have recently added to or reduced their stakes in TNK. R Squared Ltd purchased a new stake in shares of Teekay Tankers in the fourth quarter worth about $41,000. Blue Trust Inc. lifted its stake in Teekay Tankers by 49.3% in the 1st quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company’s stock worth $66,000 after purchasing an additional 568 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Teekay Tankers in the 4th quarter valued at $77,000. New Age Alpha Advisors LLC purchased a new position in shares of Teekay Tankers during the 4th quarter valued at $132,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Teekay Tankers in the fourth quarter worth $143,000. Hedge funds and other institutional investors 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.