Teekay Tankers (NYSE:TNK) Cut to Buy at StockNews.com

Posted by on Jun 8th, 2023

Teekay Tankers (NYSE:TNK – Get Rating) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday.

A number of other analysts have also recently issued reports on the stock. TheStreet upgraded shares of Teekay Tankers from a “c” rating to a “b” rating in a research note on Thursday, February 23rd. Jefferies Financial Group upped their price objective on shares of Teekay Tankers from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, February 23rd. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $51.00.

Teekay Tankers Price Performance

TNK opened at $36.72 on Thursday. The company has a current ratio of 2.79, a quick ratio of 2.42 and a debt-to-equity ratio of 0.26. Teekay Tankers has a 1 year low of $14.90 and a 1 year high of $48.05. The stock has a fifty day moving average price of $39.62 and a 200 day moving average price of $36.80. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 3.07, a PEG ratio of 0.89 and a beta of -0.14.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TNK. Dorsey Wright & Associates acquired a new stake in shares of Teekay Tankers in the fourth quarter worth $30,000. Fifth Third Bancorp acquired a new position in shares of Teekay Tankers during the first quarter valued at about $42,000. FMR LLC lifted its stake in shares of Teekay Tankers by 41.9% in the first quarter. FMR LLC now owns 1,019 shares of the shipping company’s stock valued at $44,000 after buying an additional 301 shares during the period. Point72 Asset Management L.P. acquired a new stake in Teekay Tankers during the fourth quarter worth about $46,000. Finally, Ahrens Investment Partners LLC bought a new position in Teekay Tankers during the first quarter valued at about $48,000. Institutional investors own 28.74% of the company’s stock.

Teekay Tankers Company Profile

(Get Rating)

Teekay Tankers Ltd. engages in the provision of crude oil and refined petroleum products through the operation of its oil and product tankers. It operates through the Tanker and Ship-to-Ship (STS) Transfer segment. The Tanker segment includes the operations of all the tankers, including those employed on full service lightering contracts.

Further Reading

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