Analyst Price Target Update on Teekay Tankers Ltd. (NYSE:TNK)

Teekay Tankers Ltd. (NYSE:TNK): The mean short term price target for Teekay Tankers Ltd. (NYSE:TNK) has been established at $7.5 per share. The higher price target estimate is at $12 and the lower price target estimate is expected at $3 according to 8 Analyst. The stock price is expected to vary based on the estimate which is suggested by the standard deviation value of $3.38

Many analysts have stated their opinion on the company shares. Bank of America downgrades its view on Teekay Tankers Ltd. (NYSE:TNK) according to the research report released by the firm to its investors. The shares have now been rated Underperform by the stock experts at the ratings house. Earlier, the shares had a rating of Neutral. The rating by the firm was issued on May 20, 2016. Company shares have received an average consensus rating of Hold for the current week

Teekay Tankers Ltd. (NYSE:TNK) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.1 points or 2.86% at $3.4 with 1,701,303 shares getting traded. Post opening the session at $3.44, the shares hit an intraday low of $3.4 and an intraday high of $3.52 and the price was in this range throughout the day. The company has a market cap of $531 million and the number of outstanding shares have been calculated to be 156,200,000 shares. The 52-week high of Teekay Tankers Ltd. (NYSE:TNK) is $8.53 and the 52-week low is $3.15.

Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Companys business is to own crude oil and product tankers. The Company owns around 11 Aframax Tankers, three medium range product tankers, 10 Suezmax tankers and three long range 2 product tankers. The Companys chartered-in vessels include eight Aframax Tankers and four long range 2 product tankers. The Company also operates one 50% owned very large crude carrier (VLCC). The Companys operations are managed by Teekay Tankers Management Services Ltd., which provides the Company with commercial, technical, administrative and strategic services.

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