Teekay Tankers Ltd. (TNK) Downgraded by Bank of America Merrill Lynch to "Neutral"
Monday, July 11, 2021 1:41 PM

Equities research analysts at Bank of America Merrill Lynch downgraded shares of Teekay Tankers Ltd. (NYSE: TNK) from a "buy" rating to a "neutral" rating in a research note to investors on Monday.

Separately, analysts at Zacks Investment Research reiterated a "neutral" rating on shares of Teekay Tankers Ltd. in a research note to investors on Thursday, May 12nd. Also, analysts at Dahlman Rose reiterated a "buy" rating on shares of Teekay Tankers Ltd. in a research note to investors on Friday, May 13rd. They now have a $12.00 price target on the stock.

Shares of Teekay Tankers Ltd. traded down 2.08% during mid-day trading on Tuesday, hitting $8.95. Teekay Tankers Ltd. has a 52 week low of $8.42 and a 52 week high of $13.96. The stock's 50-day moving average is $9.5 and its 200-day moving average is $10.99. The company has a market cap of $554.0 million and a price-to-earnings ratio of 25.32.

Teekay Tankers Ltd. is engaged in the international marine transportation of crude oil through the operation of its oil tankers. As of March 1, 2010, its fleet consisted of nine Aframax-class oil tankers and three Suezmax-class oil tankers. As of March 1, 2010, five of these vessels were operating in the spot market through participation in pooling arrangements managed by subsidiaries of Teekay Corporation. As of March 1, 2010, Teekay Corporation, through its 100%-owned subsidiary Teekay Holdings Ltd., had a 42% interest in the Company. On June 24, 2009, it acquired from Teekay Corporation its subsidiary Ashkini Spirit L.L.C, which owns a Suezmax tanker, the Ashkini Spirit.

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