Teekay Tankers (NYSE:TNK) hit a new 52-week low Thursday as it changed hands at $9.84 compared with its previous 52-week low of $9.87. Teekay Tankers is currently trading at $9.90 with 293,810 shares changing hands as of 10:41 a.m. as compared to the average daily trading volume of 662,600.
NEW YORK ( TheStreet) -- Teekay Tankers (NYSE: TNK) hit a new 52-week low Thursday as it traded at $9.84 compared with its previous 52-Week low of $9.87. Teekay Tankers is changing hands at $9.90 with 293,810 shares traded as of 10:41 a.m. ET. Average volume has been 662,600 shares over the past 30 days. Teekay Tankers has a market cap of $316.1 million and is part of the services sector and transportation industry. Shares are down 16.9% year to date as of the close of trading on Wednesday. Teekay Tankers Ltd., through its subsidiaries, engages in the ownership and operation of oil tankers. As of March 1, 2010, the company's fleet consisted of nine Aframax-class oil tankers and three Suezmax-class oil tankers. The company has a P/E ratio of 19.3, below the average transportation industry P/E ratio of 27.6 and above the S&P 500 P/E ratio of 17.5. TheStreet Ratings rates Teekay Tankers as hold. The company's strengths can be seen in multiple areas, such as its expanding profit margins and increase in net income. However, as a counter to these strengths, we also find weaknesses including generally poor debt management, disappointing return on equity and weak operating cash flow. You can view the full Teekay Tankers Ratings Report. See all 52-week low stocks or get investment ideas from our investment research center.