Teekay (NYSE:TK) Sets New 1-Year High – Should You Buy?

Shares of Teekay Corporation Ltd. (NYSE:TK) reached a new 52-week high on Wednesday . The company traded as high as $12.49 and last traded at $12.35, with a volume of 176474 shares. The stock had previously closed at $12.36.

Analysts Set New Price Targets

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

Teekay Stock Performance

The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 8.89 and a beta of 0.20. The company has a 50-day moving average price of $10.04 and a 200-day moving average price of $9.24.

Teekay (NYSE:TK) last issued its quarterly earnings data on Wednesday, February 18th. The shipping company reported $0.40 earnings per share (EPS) for the quarter. Teekay had a net margin of 10.33% and a return on equity of 5.02%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue bought a new stake in shares of Teekay in the third quarter worth about $27,000. Transamerica Financial Advisors LLC increased its stake in Teekay by 250.8% during the 4th quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock worth $40,000 after purchasing an additional 3,130 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in Teekay during the 4th quarter worth approximately $43,000. Cubist Systematic Strategies LLC acquired a new stake in Teekay during the 1st quarter worth approximately $48,000. Finally, CWM LLC lifted its stake in Teekay by 34.2% in the fourth quarter. CWM LLC now owns 5,684 shares of the shipping company’s stock valued at $51,000 after buying an additional 1,449 shares in the last quarter. 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.