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

Teekay Tankers (NYSE:TNK - Get Free Report) had its price objective cut by equities researchers at Evercore ISI from $53.00 to $51.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the shipping company's stock. Evercore ISI's target price would suggest a potential upside of 30.47% from the company's previous close.

Separately, Jefferies Financial Group reaffirmed 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 issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $50.67.

Teekay Tankers Stock Performance

Shares of NYSE:TNK opened at $39.09 on Tuesday. The firm has a market cap of $1.34 billion, a PE ratio of 3.45 and a beta of -0.16. Teekay Tankers has a 52 week low of $33.35 and a 52 week high of $74.20. The firm's fifty day moving average is $38.33 and its 200-day moving average is $42.20.

Teekay Tankers (NYSE:TNK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.01. The company had revenue of $163.42 million during the quarter, compared to analysts' expectations of $158.26 million. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. Sell-side analysts forecast that Teekay Tankers will post 7.13 EPS for the current year.

Institutional Inflows and Outflows

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.