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

Key Points

• Wall Street Zen downgraded Teekay from a "buy" to a "hold," and Weiss Ratings reissued a "hold (c-)," leaving the stock with an average MarketBeat rating of "Hold."
• Teekay last reported quarterly EPS of $0.37 on $243.09 million in revenue, with a return on equity of 4.76% and a net margin of 10.33%.
• TK shares opened at $11.99 (up ~1.1%), the company has a $1.10 billion market cap and a PE of 10.61, a 12‑month range of $5.65–$13.76, and about 46.7% of shares are held by institutions.

Teekay (NYSE:TK - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Sunday.

Separately, Weiss Ratings reissued a "hold (c-)" rating on shares of Teekay in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Teekay presently has an average rating of "Hold".

Teekay Trading Up 1.1%

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

Teekay (NYSE:TK - Get Free Report) last posted its earnings results on Friday, March 13th. The shipping company reported $0.37 earnings per share (EPS) for the quarter. The firm 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%.

Hedge Funds Weigh In On Teekay

A number of large investors have recently added to or reduced their stakes in TK. State of Alaska Department of Revenue bought a new stake in shares of Teekay in the third quarter valued at about $27,000. Transamerica Financial Advisors LLC grew its holdings in shares of Teekay by 250.8% during the fourth quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company's stock worth $40,000 after buying an additional 3,130 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Teekay during the fourth quarter worth about $43,000. Cubist Systematic Strategies LLC acquired a new stake in Teekay in the 1st quarter valued at approximately $48,000. Finally, CWM LLC raised its position in Teekay by 34.2% in the 4th quarter. CWM LLC now owns 5,684 shares of the shipping company's stock valued at $51,000 after buying an additional 1,449 shares during the last quarter. 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.

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