Teekay Tankers' (TNK) "Underperform" Rating Reiterated at Bank of America

Teekay Tankers (NYSE:TNK - Get Free Report)'s stock had its "underperform" rating reiterated by equities research analysts at Bank of America in a research note issued on Wednesday, MarketBeat reports. They currently have a $46.00 target price on the shipping company's stock, down from their previous target price of $51.00. Bank of America's price target would suggest a potential upside of 4.03% from the company's current price.

Several other analysts have also commented on TNK. Jefferies Financial Group reaffirmed a "buy" rating and issued a $72.00 price objective on shares of Teekay Tankers in a report on Thursday, October 31st. Evercore ISI increased their price objective on shares of Teekay Tankers from $84.00 to $85.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 23rd. Fearnley Fonds upgraded shares of Teekay Tankers to a "strong-buy" rating in a research report on Friday, September 27th. Finally, StockNews.com initiated coverage on shares of Teekay Tankers in a research report on Thursday, October 10th. They issued a "hold" rating on the stock. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $67.67.

Teekay Tankers Trading Up 0.2 %

TNK stock traded up $0.07 on Wednesday, hitting $44.22. The company had a trading volume of 242,474 shares, compared to its average volume of 356,792. Teekay Tankers has a 12-month low of $43.49 and a 12-month high of $74.20. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 3.63, a P/E/G ratio of 1.28 and a beta of -0.32. The stock's 50-day simple moving average is $53.93 and its 200 day simple moving average is $60.66.

Hedge Funds Weigh In On Teekay Tankers

Hedge funds have recently modified their holdings of the company. Fifth Third Bancorp lifted its holdings in shares of Teekay Tankers by 266.7% in the second quarter. Fifth Third Bancorp now owns 627 shares of the shipping company's stock worth $43,000 after buying an additional 456 shares in the last quarter. Quarry LP bought a new stake in shares of Teekay Tankers during the second quarter valued at approximately $43,000. EntryPoint Capital LLC boosted its holdings in shares of Teekay Tankers by 76.5% in the first quarter. EntryPoint Capital LLC now owns 872 shares of the shipping company's stock valued at $51,000 after purchasing an additional 378 shares during the period. CWM LLC increased its holdings in Teekay Tankers by 96.8% during the 3rd quarter. CWM LLC now owns 980 shares of the shipping company's stock worth $57,000 after purchasing an additional 482 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Teekay Tankers by 14.7% in the 2nd quarter. Blue Trust Inc. now owns 1,341 shares of the shipping company's stock worth $92,000 after buying an additional 172 shares during the period. 52.67% of the stock is currently 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.