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

Teekay (NYSE:TK) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Teekay in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Teekay presently has a consensus rating of “Hold”.

Teekay Stock Performance

NYSE:TK opened at $11.49 on Friday. The firm’s fifty day moving average is $11.08 and its two-hundred day moving average is $9.75. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 10.17 and a beta of 0.13. Teekay has a one year low of $5.65 and a one year high of $13.76.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new position in shares of Teekay in the third quarter worth about $27,000. Transamerica Financial Advisors LLC grew its position in shares of Teekay by 250.8% during the 4th quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock valued at $40,000 after acquiring an additional 3,130 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of Teekay in the 4th quarter valued at about $43,000. Cubist Systematic Strategies LLC acquired a new position in Teekay in the 1st quarter worth about $48,000. Finally, CWM LLC raised its holdings in Teekay by 34.2% in 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 period. Hedge funds and other institutional investors own 46.73% of the company’s stock.

About Teekay

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.