Zacks Investment Research downgraded Teekay Corporation (NYSE:TK) to Sell in a report released today.
- Updated: October 12, 2016
Zacks Investment Research has downgraded Teekay Corporation (NYSE:TK) to Sell in a report released on 10/12/2016.
Previously on 8/13/2015, RBC Capital Mkts reported about Teekay Corporation (NYSE:TK) lowered the target price from $63.00 to $57.00. At the time, this indicated a possible upside of 0.60%.
Yesterday Teekay Corporation (NYSE:TK) traded -1.64% lower at $8.40. The company’s 50-day moving average is $7.50 and its 200-day moving average is $8.19. The last stock close price is up 2.49% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 255,500 shares of the stock were exchanged, down from an average trading volume of 1,620,530
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Teekay Corporation has a 52 week low of $4.37 and a 52 week high of $35.20 The company’s market cap is currently $0.
About Teekay Corporation (NYSE:TK)
Teekay Corporation (Teekay) is a provider of crude oil and gas marine transportation services. The Company also offers offshore oil production, storage and offloading services, primarily under long-term, fixed-rate contracts. The Company is engaged in the liquefied natural gas (LNG) and liquefied petroleum gas (LPG) shipping sectors, as well as in the operations in the offshore production, storage and transportation sector. It is also involved in the conventional tanker business. Teekay provides a set of marine services to the oil and gas companies. The Company has four lines of business: offshore logistics (shuttle tankers, the HiLoad DP unit, floating storage and off-take (FSO) units, units for maintenance and safety (UMS), and long-distance towing and offshore installation vessels), offshore production (floating production, storage and offloading (FPSO) units), liquefied gas carriers and conventional tankers.
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