Teekay (NYSE:TK) Lowered to “Hold” Rating by Wall Street Zen

Teekay (NYSE:TK) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Teekay in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Teekay Trading Up 1.1%

Shares of TK opened at $11.99 on Friday. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 10.61 and a beta of 0.13. Teekay has a 12 month low of $5.65 and a 12 month high of $13.76. The firm has a fifty day simple moving average of $11.31 and a 200 day simple moving average of $9.89.

Teekay (NYSE:TK) last issued its quarterly 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 firm had revenue of $243.09 million for the quarter.

Hedge Funds Weigh In On Teekay

Several hedge funds and other institutional investors have recently made changes to their positions in TK. State of Alaska Department of Revenue acquired a new position in Teekay during the third quarter worth $27,000. Transamerica Financial Advisors LLC lifted its stake in Teekay by 250.8% in the fourth 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 last quarter. Zions Bancorporation National Association UT acquired a new stake in Teekay in the fourth quarter valued at $43,000. Cubist Systematic Strategies LLC bought a new position in shares of Teekay in the 1st quarter valued at about $48,000. Finally, CWM LLC increased its stake in shares of 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. 46.73% of the stock is owned by institutional investors.

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.