Teekay (NYSE:TK) Sets New 1-Year High - Should You Buy?

Key Points

• Teekay shares reached a new 52-week high of $15.25 before last trading at $14.88, with a market capitalization of approximately $1.26 billion.
• Analysts upgraded Teekay to “Buy,” giving the stock a consensus “Buy” rating. The company also reported quarterly EPS of $0.79, substantially above the $0.11 analyst estimate and up from $0.22 a year earlier.
• Insiders sold approximately $2.6 million of stock during the past 90 days, while institutional investors owned 46.73% of the company’s shares.

Teekay Corporation Ltd. (NYSE:TK - Get Free Report)'s stock price reached a new 52-week high during trading on Monday. The stock traded as high as $15.25 and last traded at $14.88, with a volume of 22234 shares changing hands. The stock had previously closed at $14.84.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Weiss Ratings upgraded Teekay from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, September 4th. Wall Street Zen upgraded Teekay from a "hold" rating to a "buy" rating in a research note on Saturday, August 22nd. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy".

Teekay Trading Down 1.9%

The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 7.00 and a beta of 0.33. The stock has a fifty day moving average of $13.02 and a 200-day moving average of $12.41.

Teekay (NYSE:TK - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The shipping company reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.68. Teekay had a return on equity of 7.91% and a net margin of 15.78%.During the same quarter in the prior year, the business earned $0.22 EPS.

Insider Activity

In other news, Director Rudolph Krediet sold 41,457 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $11.45, for a total value of $474,682.65. Following the sale, the director directly owned 35,167 shares of the company's stock, valued at approximately $402,662.15. This trade represents a 54.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brody Speers sold 2,350 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $13.10, for a total value of $30,785.00. Following the transaction, the chief financial officer owned 1,014 shares of the company's stock, valued at approximately $13,283.40. This trade represents a 69.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 190,257 shares of company stock worth $2,593,468 in the last 90 days. Insiders own 2.38% of the company's stock.

Institutional Trading of Teekay

Institutional investors and hedge funds have recently modified their holdings of the company. Diversified Trust Co lifted its holdings in shares of Teekay by 8.9% during the first quarter. Diversified Trust Co now owns 28,128 shares of the shipping company's stock valued at $343,000 after acquiring an additional 2,306 shares during the period. Savant Capital LLC increased its holdings in shares of Teekay by 22.2% in the fourth quarter. Savant Capital LLC now owns 13,355 shares of the shipping company's stock valued at $121,000 after purchasing an additional 2,423 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Teekay in the 2nd quarter valued at $33,000. DGS Capital Management LLC boosted its holdings in Teekay by 5.2% in the fourth quarter. DGS Capital Management LLC now owns 66,414 shares of the shipping company's stock valued at $600,000 after acquiring an additional 3,261 shares during the last quarter. Finally, Concurrent Investment Advisors LLC increased its position in Teekay by 4.6% in the second quarter. Concurrent Investment Advisors LLC now owns 79,587 shares of the shipping company's stock worth $796,000 after purchasing an additional 3,473 shares during the period. 46.73% of the stock is currently owned by institutional investors.

About Teekay

Teekay Corporation NYSE: TK is a marine transportation company focused primarily on the ownership and operation of tanker vessels. Through its investment in Teekay Tankers Ltd., the company participates in the transportation of crude oil, refined petroleum products and other liquid cargoes for energy companies, commodity traders and other customers worldwide.

Teekay was founded in 1973 and has developed from a traditional oil-tanker operator into an international maritime services group.

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