Teekay (NYSE:TK) Reaches New 52-Week High – Should You Buy?

Teekay Corporation Ltd. (NYSE:TK) hit a new 52-week high during trading on Tuesday . The stock traded as high as $13.88 and last traded at $13.8950, with a volume of 200620 shares. The stock had previously closed at $13.38.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Teekay from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Teekay has a consensus rating of “Hold”.

Teekay Trading Up 6.0%

The firm has a fifty day simple moving average of $12.35 and a two-hundred day simple moving average of $10.63. The stock has a market cap of $1.22 billion, a PE ratio of 12.55 and a beta of 0.23.

Teekay (NYSE:TK) last released its quarterly earnings results on Friday, March 13th. The shipping company reported $0.37 earnings per share 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 Trading of Teekay

Several institutional investors and hedge funds have recently modified their holdings of TK. State of Alaska Department of Revenue purchased a new stake in shares of Teekay in the 3rd quarter valued at about $27,000. Transamerica Financial Advisors LLC raised its holdings in shares of Teekay by 250.8% in the 4th 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 in the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Teekay in the 4th quarter valued at about $43,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Teekay in the 1st quarter valued at about $48,000. Finally, CWM LLC raised its holdings in shares of Teekay by 34.2% in the 4th 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 in 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.