Teekay Tankers (TNK) Gets a Sell Rating from Cleaves Securities

Cleaves Securities analyst Joakim Hannisdahl maintained a Sell rating on Teekay Tankers (TNKResearch Report) yesterday and set a price target of $10.00. The company’s shares closed last Monday at $13.16.

According to TipRanks.com, Hannisdahl is a 1-star analyst with an average return of -1.5% and a 50.9% success rate. Hannisdahl covers the Services sector, focusing on stocks such as Nordic American Tanker, International Seaways, and Eagle Bulk Shipping.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Teekay Tankers with a $18.25 average price target.

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Based on Teekay Tankers’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $342 million and net profit of $107 million. In comparison, last year the company earned revenue of $238 million and had a net profit of $12.45 million.

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Teekay Tankers Ltd. engages in the provision of crude oil and refined petroleum products through the operation of its oil and product tankers. It operates through the Conventional Tanker and Ship-to-Ship (STS) Transfer segment. The Conventional Tanker segment includes the operations of all the tankers, including those employed on full service lightering contracts. The STS Transfer segment offers lightering support services provided to conventional tanker segment as part of the full service lightering operations. The company was founded in October 2007 and is headquartered in Hamilton, Bermuda.