10 Cheap Rising Stocks to Buy Right Now

6. Teekay Tankers Ltd. (NYSE:TNK)

30-day returns: 33.94%

Forward P/E ratio: 7.13

Teekay Tankers Ltd. (NYSE:TNK) is a Bermuda-based company that provides marine transportation services to the oil industry. Its fleet includes 36 double-hull tankers and four chartered-in oil tankers.

Analysts believe the current trade disruptions and geopolitical shifts present a compelling investment opportunity, with Teekay Tankers Ltd. (NYSE:TNK) set to gain as Canadian producers explore alternative markets amid the imposition of recent tariffs by the US. The shift in trade partners also translates into increased demand for tankers, higher daily charter rates, and longer shipping distances, which is a direct tailwind for the company.

Teekay Tankers Ltd. (NYSE:TNK) reported a GAAP net income of $76.0 million, or $2.20 per share, for the first quarter of fiscal 2025, while adjusted net income was $41.8 million, or $1.21 per share. Total revenue stood at $231.6 million. During the earnings call, the company also declared a fixed cash dividend of 25 cents per share and a special cash dividend of $1 per share, payable on May 30.

Wall Street analysts have a consensus Buy rating for Teekay Tankers Ltd. (NYSE:TNK), with an average share price upside potential of nearly 16%. On May 8, Jefferies maintained its price target of $55 for the stock. Given the impressive returns over the past month and a low forward P/E ratio, TNK is one of the cheap rising stocks to invest in right now.

According to Insider Monkey’s database for Q4 2024, 21 hedge funds held a stake in Teekay Tankers Ltd. (NYSE:TNK).