Teekay Tankers Stock Hits New 52-Week Low (TNK)

NEW YORK ( TheStreet) -- Teekay Tankers (NYSE: TNK) hit a new 52-week low Thursday as it is currently trading at $5.40, below its previous 52-week low of $5.59 with 49,599 shares traded as of 9:36 a.m. ET. Average volume has been 465,400 shares over the past 30 days.

Teekay Tankers has a market cap of $287 million and is part of the services sector and transportation industry. Shares are down 54.6% year to date as of the close of trading on Wednesday.

Teekay Tankers Ltd., together with its subsidiaries, engages in the ownership and operation of oil tankers. As of August 16, 2011, it owned a fleet of nine double-hull Aframax tankers and six double-hull Suezmax tankers. The company has a P/E ratio of 36.3, above the average transportation industry P/E ratio of 18.2 and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Teekay Tankers as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and unimpressive growth in net income. You can view the full Teekay Tankers Ratings Report.

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