Teekay (TK) Stock Rating Lowered by ValuEngine
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.
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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