Teekay Tankers (NYSE:TNK) Upgraded to Strong-Buy at StockNews.com

Teekay Tankers (NYSE:TNK – Get Free Report) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday.

Teekay Tankers Stock Up 2.5 %

Teekay Tankers stock opened at $38.56 on Tuesday. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 3.22, a PEG ratio of 0.93 and a beta of -0.13. The company has a current ratio of 2.79, a quick ratio of 2.42 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average price is $38.33 and its two-hundred day moving average price is $37.86. Teekay Tankers has a 52 week low of $18.03 and a 52 week high of $48.05.

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Teekay Tankers (NYSE:TNK – Get Free Report) last announced its quarterly earnings data on Thursday, May 11th. The shipping company reported $5.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.65 by $1.48. The company had revenue of $270.47 million for the quarter. Teekay Tankers had a net margin of 32.12% and a return on equity of 39.74%. On average, analysts expect that Teekay Tankers will post 13.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TNK. JPMorgan Chase & Co. increased its position in shares of Teekay Tankers by 18.4% in the first quarter. JPMorgan Chase & Co. now owns 259,382 shares of the shipping company’s stock worth $3,590,000 after acquiring an additional 40,309 shares in the last quarter. American Century Companies Inc. increased its position in shares of Teekay Tankers by 27.5% in the first quarter. American Century Companies Inc. now owns 105,429 shares of the shipping company’s stock worth $1,459,000 after acquiring an additional 22,761 shares in the last quarter. Rhumbline Advisers increased its position in shares of Teekay Tankers by 20.7% in the first quarter. Rhumbline Advisers now owns 32,864 shares of the shipping company’s stock worth $455,000 after acquiring an additional 5,639 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Teekay Tankers by 2.5% during the first quarter. Vanguard Group Inc. now owns 98,450 shares of the shipping company’s stock worth $1,363,000 after purchasing an additional 2,394 shares during the period. Finally, NewEdge Advisors LLC acquired a new stake in shares of Teekay Tankers during the first quarter worth approximately $159,000. 48.81% of the stock is owned by hedge funds and other institutional investors.

Teekay Tankers Company Profile

(Get Free Report)

Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; and offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products.

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