Zacks Lowers Teekay Offshore Partners L.P. to Underperform (TOO)
Teekay Offshore Partners L.P. (NYSE:TOO) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued on Monday. They currently have a $33.50 target price on the stock. Zacks‘s price target suggests a potential downside of 5.07% from the stock’s previous close.
Shares of Teekay Offshore Partners L.P. (NYSE:TOO) traded down 0.71% on Monday, hitting $35.04. The stock had a trading volume of 98,021 shares. Teekay Offshore Partners L.P. has a 52-week low of $29.24 and a 52-week high of $37.46. The stock has a 50-day moving average of $34.9 and a 200-day moving average of $34.01. The company’s market cap is $3.002 billion.
Teekay Offshore Partners L.P. (NYSE:TOO) last announced its earnings results on Thursday, August 7th. The company reported $0.17 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.36 by $0.19. On average, analysts predict that Teekay Offshore Partners L.P. will post $1.13 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital raised their price target on shares of Teekay Offshore Partners L.P. from $35.00 to $36.00 in a research note on Wednesday, August 6th. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Teekay Offshore Partners L.P. in a research note on Tuesday, July 29th. They now have a $37.00 price target on the stock, up previously from $31.50. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $35.42.
Teekay Offshore Partners L.P. (NYSE:TOO) is an international provider of marine transportation and storage services to the offshore oil industry.
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