Teekay Tankers (TNK) Shares Up 5.3%
Teekay Tankers Ltd. (NYSE:TNK) shot up 5.3% during mid-day trading on Wednesday . The stock traded as high as $1.22 and last traded at $1.20. 3,035,310 shares changed hands during mid-day trading, an increase of 122% from the average session volume of 1,368,718 shares. The stock had previously closed at $1.14.
Several brokerages recently issued reports on TNK. Morgan Stanley cut their price target on Teekay Tankers from $2.00 to $1.30 and set an “equal weight” rating for the company in a research note on Monday. ValuEngine cut Teekay Tankers from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded Teekay Tankers from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. Bank of America cut their price target on Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating for the company in a research note on Friday, November 10th. Finally, Seaport Global Securities set a $3.00 price target on Teekay Tankers and gave the company a “buy” rating in a research note on Thursday, January 4th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Teekay Tankers has a consensus rating of “Hold” and a consensus target price of $1.82.
The company has a debt-to-equity ratio of 0.73, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $321.84, a P/E ratio of -4.29 and a beta of 2.18.
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Teekay Tankers Company Profile
Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Company’s business is to own crude oil and product tankers. The Company has two segments: conventional tanker and ship-to-ship transfer. Its conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts.
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