The price-to-earnings ratio for Teekay Tankers Ltd (NYSE: TNK) is above average at 4.66x. The 36-month beta value for TNK is also noteworthy at -0.28. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 0 rating it as “overweight,” 6 rating it as “hold,” and 2 rating it as “sell.”
The public float for TNK is 24.26M, and at present, short sellers hold a 2.89% of that float. The average trading volume of TNK on May 10, 2024 was 378.38K shares.
TNK) stock’s latest price update
The stock of Teekay Tankers Ltd (NYSE: TNK) has increased by 9.07 when compared to last closing price of 63.54. Despite this, the company has experienced a 14.96% gain in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-05-09 that Investors looking for stocks in the Transportation – Shipping sector might want to consider either Teekay Tankers (TNK) or Kirby (KEX). But which of these two companies is the best option for those looking for undervalued stocks?
TNK’s Market Performance
Teekay Tankers Ltd (TNK) has experienced a 14.96% rise in stock performance for the past week, with a 22.96% rise in the past month, and a 19.42% rise in the past quarter. The volatility ratio for the week is 3.58%, and the volatility levels for the past 30 days are at 2.95% for TNK. The simple moving average for the last 20 days is 18.84% for TNK stock, with a simple moving average of 37.18% for the last 200 days.
Analysts’ Opinion of TNK
Many brokerage firms have already submitted their reports for TNK stocks, with BofA Securities repeating the rating for TNK by listing it as a “Buy.” The predicted price for TNK in the upcoming period, according to BofA Securities is $72 based on the research report published on January 19, 2024 of the current year 2024.
Jefferies, on the other hand, stated in their research note that they expect to see TNK reach a price target of $25. The rating they have provided for TNK stocks is “Buy” according to the report published on July 21st, 2022.
Jefferies gave a rating of “Buy” to TNK, setting the target price at $19 in the report published on April 27th of the previous year.
TNK Trading at 21.43% from the 50-Day Moving Average
After a stumble in the market that brought TNK to its low price for the period of the last 52 weeks, the company was able to rebound, for now settling with 7.58% of gains for the given period.
Volatility was left at 2.95%, however, over the last 30 days, the volatility rate increased by 3.58%, as shares surge +17.78% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +25.77% upper at present.
During the last 5 trading sessions, TNK rose by +14.96%, which changed the moving average for the period of 200-days by +69.94% in comparison to the 20-day moving average, which settled at $58.84. In addition, Teekay Tankers Ltd saw 38.68% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for TNK
Current profitability levels for the company are sitting at:
- 0.39 for the present operating margin
- 0.42 for the gross margin
The net margin for Teekay Tankers Ltd stands at 0.38. The total capital return value is set at 0.3. Equity return is now at value 39.58, with 28.09 for asset returns.
Based on Teekay Tankers Ltd (TNK), the company’s capital structure generated 0.04 points at debt to capital in total, while cash flow to debt ratio is standing at 11.1. The debt to equity ratio resting at 0.04. The interest coverage ratio of the stock is 18.97.
Currently, EBITDA for the company is 624.35 million with net debt to EBITDA at -0.24. When we switch over and look at the enterprise to sales, we see a ratio of 1.62. The receivables turnover for the company is 8.02for trailing twelve months and the total asset turnover is 0.73. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.40.
Conclusion
In summary, Teekay Tankers Ltd (TNK) has had a better performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
