Teekay (NYSE:TK) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Teekay (NYSE:TK) from a buy rating to a hold rating in a research note issued to investors on Sunday morning.

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Teekay in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Teekay Price Performance

Shares of NYSE:TK opened at $12.19 on Friday. Teekay has a 12 month low of $5.65 and a 12 month high of $13.76. The firm has a market capitalization of $1.12 billion, a P/E ratio of 10.78 and a beta of 0.12. The company’s fifty day moving average price is $11.40 and its 200 day moving average price is $9.95.

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

Institutional Trading of Teekay

A number of large investors have recently bought and sold shares of TK. State of Alaska Department of Revenue purchased a new stake in shares of Teekay in the third quarter valued at about $27,000. Transamerica Financial Advisors LLC increased its position in Teekay by 250.8% in the 4th quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock valued at $40,000 after acquiring an additional 3,130 shares during the period. Zions Bancorporation National Association UT acquired a new position in Teekay in the 4th quarter valued at about $43,000. Cubist Systematic Strategies LLC purchased a new stake in Teekay during the 1st quarter valued at approximately $48,000. Finally, CWM LLC raised its stake in Teekay by 34.2% during the 4th quarter. CWM LLC now owns 5,684 shares of the shipping company’s stock valued at $51,000 after acquiring an additional 1,449 shares during the last quarter. Institutional investors and hedge funds 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.