Teekay Tankers (NYSE:TNK) Price Target Lowered to $20.00 at Jefferies Financial Group


Teekay Tankers (NYSE:TNK) had its worth goal diminished by funding analysts at Jefferies Monetary Group from $24.00 to $20.00 in a report launched on Friday, Stock Target Advisor stories. The agency at the moment has a “purchase” ranking on the delivery firm’s inventory. Jefferies Monetary Group’s worth goal factors to a possible upside of 92.68% from the corporate’s earlier shut.

Quite a lot of different analysis corporations have additionally not too long ago weighed in on TNK. Financial institution of America minimize Teekay Tankers from a “purchase” ranking to an “underperform” ranking and lowered their worth goal for the corporate from $20.00 to $14.00 in a analysis report on Friday, August 14th. BofA Securities minimize Teekay Tankers from a “purchase” ranking to an “underperform” ranking and lowered their worth goal for the corporate from $20.00 to $14.00 in a analysis report on Friday, August 14th. Lastly, Zacks Investment Research minimize Teekay Tankers from a “maintain” ranking to a “promote” ranking in a analysis report on Saturday, October 17th. 4 funding analysts have rated the inventory with a promote ranking, one has issued a maintain ranking and three have issued a purchase ranking to the corporate’s inventory. The corporate presently has a median ranking of “Maintain” and a consensus worth goal of $19.57.

Shares of NYSE:TNK opened at $10.38 on Friday. The inventory has a market capitalization of $349.34 million, a price-to-earnings ratio of 1.41, a PEG ratio of 0.58 and a beta of 0.17. The corporate has a debt-to-equity ratio of 0.55, a fast ratio of 1.71 and a present ratio of 1.88. The inventory’s 50-day easy transferring common is $11.39 and its two-hundred day easy transferring common is $14.83. Teekay Tankers has a 52-week low of $9.92 and a 52-week excessive of $26.92.

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Teekay Tankers (NYSE:TNK) final posted its quarterly earnings knowledge on Thursday, August 13th. The delivery firm reported $2.39 earnings per share for the quarter, lacking the Zacks’ consensus estimate of $2.90 by ($0.51). Teekay Tankers had a web margin of 23.10% and a return on fairness of 24.00%. The corporate had income of $184.93 million for the quarter, in comparison with analysts’ expectations of $219.46 million. As a gaggle, equities analysts forecast that Teekay Tankers will submit 6.22 earnings per share for the present fiscal yr.

Hedge funds and different institutional buyers have not too long ago purchased and bought shares of the inventory. Edge Wealth Administration LLC bought a brand new place in Teekay Tankers within the 2nd quarter price roughly $58,000. Meeder Asset Administration Inc. lifted its holdings in Teekay Tankers by 271.8% within the 1st quarter. Meeder Asset Administration Inc. now owns 4,064 shares of the delivery firm’s inventory price $90,000 after buying an extra 2,971 shares within the final quarter. Tower Analysis Capital LLC TRC bought a brand new place in Teekay Tankers within the 1st quarter price roughly $103,000. Symons Capital Administration Inc. bought a brand new place in Teekay Tankers within the 2nd quarter price roughly $149,000. Lastly, Mid Atlantic Monetary Administration Inc. ADV bought a brand new place in Teekay Tankers within the 2nd quarter price roughly $156,000. 28.45% of the inventory is at the moment owned by institutional buyers.

About Teekay Tankers

Teekay Tankers Ltd. offers marine transportation companies to grease industries in Bermuda and internationally. It operates via two segments, Tanker and Ship-to-ship Switch (STS). The corporate gives voyage and time constitution companies; and offshore STS switch companies of commodities primarily crude oil and refined oil merchandise, in addition to liquid gases and varied different merchandise.

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Analyst Recommendations for Teekay Tankers (NYSE:TNK)

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6 Stocks Riding the Coattails of Nikola Motor

Since its preliminary public providing on June 4, shares of Nikola (NASDAQ: NKLA) have surged over 130%. NKLA inventory has cooled down since then and is now buying and selling at simply over a 60% premium from its IPO worth of $34 per share.

Nikola isnt alone. The whole electrical automobile (EV) market is on a tear. Along with the surge in Nikola inventory, Tesla (NASDAQ: TSLA) inventory is up over 93% and Nio (NYSE: NIO) inventory has climbed practically over 160% in the identical time interval. However whereas Tesla and Nio are literally producing vehicles, Nikola doesn’t actually have a plant constructed.

With all that mentioned, the attract of Nikola is straightforward to see. The corporate is planning on constructing a fleet of hydrogen gas cell vehicles powered by hydrogen fueling stations from sea to shining sea. A minimum of thats the plan. However that plan is years away. The corporate receivedt actually have a gas cell truck accessible till 2023 on the earliest.

And whereas the USA has 39 hydrogen fueling stations, its an costly, difficult enterprise. However thats been the issue with hydrogen for practically 20 years. And that has some buyers questioning what the corporates chief govt officer (CEO) Trevor Milton is absolutely promoting.

Leaving apart the query of whether or not Nikola is using the coattails of Tesla, Nikola is starting to create some vital coattails of its personal. And theres a motive for this. Whereas Nikola is planning to compete with Tesla within the electrical automobile enviornment, its additionally masking a selected area of interest with a semi-truck that may run on a hydrogen gas cell.

View the “6 Stocks Riding the Coattails of Nikola Motor”.



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