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

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

Separately, Weiss Ratings reissued 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, According to data from MarketBeat.com, Teekay has a consensus rating of “Hold”.

Teekay Stock Performance

Shares of TK stock opened at $11.49 on Friday. The stock’s 50-day moving average is $11.08 and its two-hundred day moving average is $9.77. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 10.17 and a beta of 0.12. Teekay has a 1 year low of $5.65 and a 1 year high of $13.76.

Teekay (NYSE:TK) last issued its quarterly earnings data on Friday, March 13th. The shipping company reported $0.37 earnings per share for the quarter. The company 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

Hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC purchased a new position in Teekay during the fourth quarter worth $630,000. DGS Capital Management LLC increased its holdings in shares of Teekay by 5.2% during the 4th quarter. DGS Capital Management LLC now owns 66,414 shares of the shipping company’s stock worth $600,000 after buying an additional 3,261 shares during the last quarter. Empowered Funds LLC increased its stake in Teekay by 0.5% during the fourth quarter. Empowered Funds LLC now owns 473,886 shares of the shipping company’s stock worth $4,279,000 after acquiring an additional 2,382 shares during the last quarter. Susquehanna Portfolio Strategies LLC increased its position in Teekay by 44.2% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 125,619 shares of the shipping company’s stock worth $1,134,000 after purchasing an additional 38,492 shares in the last quarter. Finally, Engineers Gate Manager LP increased its position in shares of Teekay by 11.7% in the fourth quarter. Engineers Gate Manager LP now owns 30,504 shares of the shipping company’s stock worth $275,000 after acquiring an additional 3,196 shares in the last quarter. 46.73% of the stock is owned by hedge funds and other institutional investors.

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.