Alert: Negative Investment/Fundamental Signals (10/23/24)-Teekay Tankers Ltd (NYSE: TNK)

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Teekay Tankers Ltd (NYSE: TNK) suffers from exceptional negative changes in investment behavior: its longer term price trend turned down, and the stock fell on very heavy volume.

Recent significant negative changes in fundamentals have impacted Teekay Tankers Ltd (NYSE: TNK): the stock’s power rating fell below 50, and the consensus estimate for December, 2024 decreased significantly.

In light of these highly negative signals we are reviewing our current Overall Rating of B. We would view the shares with caution pending completion of this review in the next several days.

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Current PriceTarget Research Rating

TNK’s future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be a major Value Builder.

Teekay Tankers has a current Value Trend Rating of B (Positive). This rating combines inconsistent signals from two proprietary PTR measures of a stock’s attractiveness. Teekay Tankers has a very high Appreciation Score of 88 but a neutral Power Rating of 40, producing the Positive Value Trend Rating.

Recent Price Action

Teekay Tankers Ltd (NYSE: TNK) stock closed at $50.06 on 10/23/24 after a large decline of -6.0%. Moreover, exceptionally high trading volume at 203% of normal accompanied the decline. The stock has declined -8.0% during the last week and has performed in line with the market over the last nine months.

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