H.C. Wainwright Reiterates a Buy Rating on Teekay Tankers (TNK)

By Jason Carr

H.C. Wainwright analyst Magnus Fyhr reiterated a Buy rating on Teekay Tankers (TNKResearch Report) today and set a price target of $22.00. The company’s shares closed last Thursday at $14.09.

According to TipRanks.com, Fyhr is a 1-star analyst with an average return of -2.1% and a 44.0% success rate. Fyhr covers the Industrial Goods sector, focusing on stocks such as Nordic American Tanker, International Seaways, and Performance Shipping.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Teekay Tankers with a $20.25 average price target.

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Based on Teekay Tankers’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $128 million and GAAP net loss of $73.29 million. In comparison, last year the company earned revenue of $311 million and had a net profit of $63.07 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.