Teekay Tankers Ltd. (TNK) stock is expected to deviate a maximum of $2.72 from the average target price of $5.04 for the short term period. 7 Street Experts have initiated coverage on the stock with the most promising target being $10 and the most muted being $3.
Teekay Tankers Ltd. (TNK) : 8 analysts are covering Teekay Tankers Ltd. (TNK) and their average rating on the stock is 2.38, which is read as a Buy. 3 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 5, which recommends a Strong Sell 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.
Also, Equity Analysts at the Danske Bank downgrades the rating on Teekay Tankers Ltd. (NYSE:TNK). The brokerage firm has issued a Sell rating on the shares. The shares were previously rated Hold. The rating by the firm was issued on August 8, 2016.
Teekay Tankers Ltd. (NYSE:TNK): The stock opened at $2.60 on Thursday but the bulls could not build on the opening and the stock topped out at $2.62 for the day. The stock traded down to $2.51 during the day, due to lack of any buying support eventually closed down at $2.54 with a loss of -2.68% for the day. The stock had closed at $2.61 on the previous day. The total traded volume was 2,021,758 shares.
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.