Teekay (NYSE:TK) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Teekay (NYSE:TK) from a hold rating to a buy rating in a report issued on Saturday.

Teekay Stock Performance

Teekay stock opened at $14.08 on Friday. The company’s fifty day moving average price is $12.46 and its 200 day moving average price is $10.75. Teekay has a 1 year low of $7.11 and a 1 year high of $14.38. The stock has a market capitalization of $1.21 billion, a P/E ratio of 12.46 and a beta of 0.23.

Teekay (NYSE:TK) last announced its earnings results on Friday, March 13th. The shipping company reported $0.37 earnings per share (EPS) for the quarter. Teekay had a net margin of 10.33% and a return on equity of 4.76%. The company had revenue of $243.09 million for the quarter.

Institutional Investors Weigh In On Teekay

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue acquired a new stake in Teekay during the 3rd quarter worth $27,000. Transamerica Financial Advisors LLC boosted its stake in Teekay by 250.8% during the 4th quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock worth $40,000 after purchasing an additional 3,130 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in Teekay during the 4th quarter worth $43,000. Cubist Systematic Strategies LLC acquired a new stake in Teekay during the 1st quarter worth $48,000. Finally, CWM LLC boosted its stake in Teekay by 34.2% during the 4th quarter. CWM LLC now owns 5,684 shares of the shipping company’s stock worth $51,000 after purchasing an additional 1,449 shares during the last quarter. Institutional investors and hedge funds own 46.73% of the company’s stock.

Teekay Company Profile

Teekay Corporation (NYSE: TK) is a global provider of marine transportation and offshore production solutions for the energy industry. Founded in 1973 and headquartered in Vancouver, Canada, Teekay designs, owns and operates a diversified fleet of tankers and floating production, storage and offloading (FPSO) units. The company specializes in the movement and storage of crude oil, liquefied natural gas (LNG) and liquefied petroleum gas (LPG), offering integrated services that range from tanker transport to offshore production and marine maintenance.

Teekay’s core business is organized into three operating segments.