Teekay Tankers Ltd. (TNK) was a big mover last session, as the company saw its shares rise more than 12% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company as the stock is now trading above the volatile price range of $3.22–$4.04 in the past one-month time frame.
This shipping stock witnessed three upward revisions in the past 30 days. The Zacks Consensus Estimate also moved higher over the same time frame, suggesting that more solid trading could be ahead for Teekay Tankers. So make sure to keep an eye on this stock going forward to see if yesterday’s jump can turn into more strength down the road.
Teekay Tankers has a Zacks Rank #2 (Buy), while its Earnings ESP is positive.
Investors interested in the sector may also consider stocks like DHT Holdings, Inc. (DHT), Paragon Shipping Inc. (PRGN) and Safe Bulkers, Inc. (SB). All these stocks sport a Zacks Rank #1 (Strong Buy).
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