Equities researchers at Jefferies Group started coverage on shares of Teekay (NYSE:TK) in a research report issued on Monday. The firm set a “hold” rating and a $8.00 price target on the shipping company’s stock. Jefferies Group’s price target indicates a potential downside of 13.42% from the company’s current price.

A number of other research analysts also recently commented on the stock. Zacks Investment Research raised shares of Teekay from a “sell” rating to a “hold” rating in a research report on Tuesday, December 5th. ValuEngine downgraded shares of Teekay from a “sell” rating to a “strong sell” rating in a research report on Friday, December 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $7.00.

Teekay (NYSE:TK) opened at $9.24 on Monday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.70 and a quick ratio of 0.70. Teekay has a 12-month low of $5.14 and a 12-month high of $11.77.

Teekay (NYSE:TK) last posted its earnings results on Thursday, November 9th. The shipping company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.03. The business had revenue of $500.80 million for the quarter, compared to the consensus estimate of $475.32 million. Teekay had a negative net margin of 6.66% and a negative return on equity of 3.48%. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.23) EPS. research analysts expect that Teekay will post -1.16 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in TK. FMR LLC boosted its stake in Teekay by 1.6% in the 2nd quarter. FMR LLC now owns 8,606,199 shares of the shipping company’s stock worth $57,403,000 after purchasing an additional 131,584 shares in the last quarter. State Street Corp boosted its stake in Teekay by 3.8% in the 2nd quarter. State Street Corp now owns 1,185,982 shares of the shipping company’s stock worth $7,910,000 after purchasing an additional 43,160 shares in the last quarter. Northern Trust Corp boosted its stake in Teekay by 9.0% in the 2nd quarter. Northern Trust Corp now owns 1,071,989 shares of the shipping company’s stock worth $7,151,000 after purchasing an additional 88,261 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Teekay by 12.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 746,536 shares of the shipping company’s stock worth $4,980,000 after purchasing an additional 82,667 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Teekay by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 618,000 shares of the shipping company’s stock worth $4,122,000 after purchasing an additional 3,433 shares in the last quarter. Institutional investors and hedge funds own 27.73% of the company’s stock.

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About Teekay

Teekay Corporation (Teekay) is a provider of crude oil and gas marine transportation services. The Company also offers offshore oil production, storage and offloading services, primarily under long-term, fixed-rate contracts. The Company is engaged in the liquefied natural gas (LNG) and liquefied petroleum gas (LPG) shipping sectors, as well as in the operations in the offshore production, storage and transportation sector.

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