Teekay (NYSE:TK) Reaches New 52-Week High - Should You Buy?

Key Points

• New 52-week high: Shares traded as high as $13.88 (last at $13.895) on Tuesday with about 200,620 shares changing hands.
• Analyst sentiment cooled: Wall Street Zen downgraded TK from "Buy" to "Hold," and MarketBeat's average rating for Teekay is currently "Hold."
• Fundamentals and flows: Market cap ≈ $1.22B, P/E 12.55, last-quarter EPS $0.37 on $243.09M revenue, and several large investors (e.g., Millennium, Mercuria) have recently added or increased stakes; institutional ownership is ~46.7%.

Shares of Teekay Corporation Ltd. (NYSE:TK - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $13.88 and last traded at $13.8950, with a volume of 200620 shares. The stock had previously closed at $13.38.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Teekay from a "buy" rating to a "hold" rating in a research note on Sunday, March 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Teekay presently has an average rating of "Hold".

Teekay Stock Performance

The company has a market cap of $1.22 billion, a P/E ratio of 12.55 and a beta of 0.23. The firm has a 50 day moving average price of $12.35 and a two-hundred day moving average price of $10.63.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TK. Mercuria Capital Strategies LLC bought a new position in Teekay in the 4th quarter worth about $11,091,000. Millennium Management LLC boosted its stake in Teekay by 153.8% in the 1st quarter. Millennium Management LLC now owns 1,188,289 shares of the shipping company's stock worth $7,807,000 after purchasing an additional 720,093 shares during the period. O Shaughnessy Asset Management LLC bought a new position in Teekay in the 4th quarter worth about $4,066,000. Allspring Global Investments Holdings LLC boosted its stake in Teekay by 36.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,394,516 shares of the shipping company's stock worth $11,477,000 after purchasing an additional 371,530 shares during the period. Finally, HRT Financial LP bought a new position in Teekay in the 4th quarter worth about $2,996,000. Institutional investors 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.

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