Analyst Rating Update on Teekay Tankers Ltd. (TNK)

Teekay Tankers Ltd. (NYSE:TNK) : 9 analysts are covering Teekay Tankers Ltd. (NYSE:TNK) and their average rating on the stock is 2.22, which is read as a Buy. 4 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. 1 more analyst has given the stock a Sell recommendation. A total of 4 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Teekay Tankers Ltd. (NYSE:TNK) : 8 investment research analysts covering Teekay Tankers Ltd. (NYSE:TNK) have an average price target of $6.88 for the near short term. The highest target price given by the Brokerage Firm to the stock is $10 and the lowest target is $3 for the short term. Analysts expect the variance to be within $2.85 of the average price.

Company shares have received an average consensus rating of Hold for the current week Also, In a research note released to the investors, Bank of America downgrades its rating on Teekay Tankers Ltd. (NYSE:TNK).The analysts at the brokerage house have a current rating of Underperform on the shares. Earlier, the shares were rated a Neutral by the brokerage firm. The rating by the firm was issued on May 20, 2016.

Teekay Tankers Ltd. (NYSE:TNK): stock turned positive on Tuesday. Though the stock opened at $3, the bulls momentum made the stock top out at $3.09 level for the day. The stock recorded a low of $2.97 and closed the trading day at $3.06, in the green by 5.15%. The total traded volume for the day was 2,089,511. The stock had closed at $2.91 in the previous days trading.

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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