Teekay (NYSE:TK) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

TK has been the topic of several other reports. Zacks Investment Research downgraded shares of Teekay from a “hold” rating to a “sell” rating in a research note on Tuesday, January 1st. Bank of America initiated coverage on shares of Teekay in a research note on Monday, October 22nd. They set a “buy” rating and a $8.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $7.50.

Shares of TK opened at $3.54 on Monday. Teekay has a fifty-two week low of $2.92 and a fifty-two week high of $9.23. The company has a market cap of $354.52 million, a P/E ratio of -2.57 and a beta of 1.40. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.58.

Teekay (NYSE:TK) last announced its earnings results on Thursday, November 15th. The shipping company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.22). Teekay had a negative return on equity of 2.07% and a negative net margin of 4.84%. The business had revenue of $325.66 million for the quarter, compared to analysts’ expectations of $311.22 million. On average, research analysts forecast that Teekay will post -0.5 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in TK. Virtu Financial LLC increased its position in shares of Teekay by 60.8% in the 3rd quarter. Virtu Financial LLC now owns 21,068 shares of the shipping company’s stock valued at $142,000 after purchasing an additional 7,962 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Teekay in the 3rd quarter valued at approximately $283,000. BlueMountain Capital Management LLC increased its position in shares of Teekay by 130.8% in the 3rd quarter. BlueMountain Capital Management LLC now owns 42,867 shares of the shipping company’s stock valued at $289,000 after purchasing an additional 24,290 shares during the last quarter. Rhumbline Advisers increased its position in shares of Teekay by 42.2% in the 4th quarter. Rhumbline Advisers now owns 100,752 shares of the shipping company’s stock valued at $337,000 after purchasing an additional 29,877 shares during the last quarter. Finally, Rubric Capital Management LP purchased a new stake in shares of Teekay in the 3rd quarter valued at approximately $529,000. 23.64% of the stock is currently owned by institutional investors.

Teekay Company Profile

Teekay Corporation provides crude oil and gas marine transportation; offshore oil production; and storage and offloading services in Bermuda and internationally. It operates shuttle tankers, floating storage and offloading (FSO) units, HiLoad dynamic positioning units, and long-distance towing and offshore installation vessels, as well as offers offshore accommodation, storage, and support for maintenance and modification projects.

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