Teekay (NYSE:TK) Stock Rating Upgraded by Wall Street Zen

Teekay (NYSE:TK) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Teekay Trading Down 0.1%

Teekay stock opened at $14.08 on Friday. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 12.46 and a beta of 0.23. The business’s 50 day simple moving average is $12.46 and its 200 day simple moving average is $10.75. Teekay has a 12 month low of $7.11 and a 12 month high of $14.38.

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

Institutional Investors Weigh In On Teekay

Large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Teekay by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,460 shares of the shipping company’s stock worth $213,000 after buying an additional 1,404 shares during the period. CWM LLC increased its holdings in shares of Teekay by 34.2% in the fourth quarter. CWM LLC now owns 5,684 shares of the shipping company’s stock worth $51,000 after buying an additional 1,449 shares during the period. Bell & Brown Wealth Advisors LLC increased its holdings in shares of Teekay by 0.9% in the third quarter. Bell & Brown Wealth Advisors LLC now owns 202,552 shares of the shipping company’s stock worth $1,657,000 after buying an additional 1,899 shares during the period. Fisher Asset Management LLC grew its stake in shares of Teekay by 3.8% in the third quarter. Fisher Asset Management LLC now owns 52,500 shares of the shipping company’s stock worth $429,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Ritholtz Wealth Management grew its stake in shares of Teekay by 1.4% in the fourth quarter. Ritholtz Wealth Management now owns 154,498 shares of the shipping company’s stock worth $1,395,000 after purchasing an additional 2,177 shares during the last quarter. Hedge funds and other institutional investors 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.