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

Teekay Corporation Ltd. (NYSE:TK)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $14.39 and last traded at $14.3810, with a volume of 626945 shares changing hands. The stock had previously closed at $14.10.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TK shares. Weiss Ratings upgraded Teekay from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Wall Street Zen upgraded shares of Teekay from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy”.

Teekay Price Performance

The firm has a market capitalization of $1.25 billion, a PE ratio of 6.91 and a beta of 0.25. The stock has a 50-day moving average price of $11.95 and a 200-day moving average price of $12.19.

Teekay (NYSE:TK) last issued its earnings results on Friday, July 31st. The shipping company reported $0.79 EPS for the quarter, topping the consensus estimate 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 period last year, the business posted $0.22 earnings per share.

Insider Buying and Selling at Teekay

In other Teekay news, CFO Brody Speers sold 2,350 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $13.10, for a total value of $30,785.00. Following the sale, the chief financial officer owned 1,014 shares in the company, valued at approximately $13,283.40. This trade represents a 69.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rudolph Krediet sold 41,457 shares of Teekay stock in a transaction that occurred on Monday, August 3rd. The shares were 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 in the company, valued at approximately $402,662.15. This trade represents a 54.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 126,549 shares of company stock worth $1,494,823. 2.38% of the stock is owned by insiders.

Hedge Funds Weigh In On Teekay

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC bought a new stake in Teekay during the 1st quarter valued at $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Teekay by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,460 shares of the shipping company’s stock valued at $213,000 after purchasing an additional 1,404 shares in the last quarter. Millennium Management LLC lifted its holdings in Teekay by 153.8% in the first 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. Dynamic Technology Lab Private Ltd bought a new position in Teekay in the 1st quarter valued at about $267,000. Finally, Jane Street Group LLC increased its stake in Teekay by 82.3% during the 1st quarter. Jane Street Group LLC now owns 160,068 shares of the shipping company’s stock valued at $1,052,000 after buying an additional 72,240 shares during the period. 46.73% of the stock is owned by 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.