Teekay Tankers Stock Gaps Down On Today's Open (TNK)
Shares of Teekay Tankers (NYSE:TNK) were gapping down Wednesday morning with an open price 13.7% lower than Tuesday's closing price. The stock closed at $4.53 yesterday and opened today's trading at $3.91.
NEW YORK ( TheStreet) -- Shares of Teekay Tankers (NYSE: TNK) were gapping down Wednesday morning with an open price 13.7% lower than Tuesday's closing price. The stock closed at $4.53 Tuesday and opened today's trading at $3.91. The average volume for Teekay Tankers has been 510,500 shares per day over the past 30 days. Teekay Tankers has a market cap of $224.8 million and is part of the services sector and transportation industry. Shares are up 28.7% year to date as of the close of trading on Tuesday. 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 79, below the average transportation industry P/E ratio of 91 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Teekay Tankers as a sell. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself. You can view the full Teekay Tankers Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping down? Get free SMS text alerts sent to you when the action happens by texting DOWN to 95370 or select from multiple alert options.