Teekay (NYSE:TK) Downgraded by Wall Street Zen to Hold

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

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

Teekay Stock Down 0.1%

Shares of TK opened at $11.99 on Friday. The stock’s 50-day moving average price is $11.31 and its 200 day moving average price is $9.90. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 10.61 and a beta of 0.12. Teekay has a 12-month low of $5.65 and a 12-month high of $13.76.

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

Institutional Investors Weigh In On Teekay

Several large investors have recently modified their holdings of the stock. State of Alaska Department of Revenue bought a new position in shares of Teekay during the 3rd quarter worth approximately $27,000. Transamerica Financial Advisors LLC grew its position in Teekay by 250.8% in the fourth 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 bought a new stake in Teekay in the fourth quarter valued at $43,000. Cubist Systematic Strategies LLC acquired a new position in Teekay during the first quarter worth $48,000. Finally, CWM LLC lifted its holdings in shares of Teekay by 34.2% during the fourth 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 period. 46.73% of the stock is currently owned by institutional investors.

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.