Teekay Corporation (TK): Today's Featured Transportation Winner
Teekay Corporation (TK) pushed the Transportation industry higher today making it today's featured transportation winner. The industry as a whole closed the day down 0.1%. By the end of trading, Teekay Corporation rose 44 cents (1.4%) to $32.88 on average volume. Throughout the day, 591,021 shares of Teekay Corporation exchanged hands as compared to its average daily volume of 599,400 shares. The stock ranged in a price between $32.56-$33.15 after having opened the day at $32.75 as compared to the previous trading day's close of $32.44. Other companies within the Transportation industry that increased today were: TOP Ships (TOPS), up 11%, Copa Holdings (CPA), up 10.1%, Danaos Corporation (DAC), up 8.8%, and Covenant Transportation Group (CVTI), up 7.2%. Teekay Corporation engages in the marine transportation of crude oil and gas in Bermuda and internationally. Teekay Corporation has a market cap of $2.24 billion and is part of the services sector. Shares are up 21.4% year to date as of the close of trading on Wednesday. Currently there are four analysts that rate Teekay Corporation a buy, no analysts rate it a sell, and two rate it a hold. TheStreet Ratings rates Teekay Corporation as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
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