Team (TISI) Downgraded by Johnson Rice to Accumulate

Team (NYSE:TISI) was downgraded by equities researchers at Johnson Rice from a “buy” rating to an “accumulate” rating in a research note issued on Thursday, MarketBeat Ratings reports. They currently have a $25.00 price target on the business services provider’s stock, down from their previous price target of $26.00. Johnson Rice’s target price would suggest a potential upside of 22.67% from the stock’s previous close.

Several other equities analysts have also commented on the company. KeyCorp upped their target price on Team from $24.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, August 10th. ValuEngine lowered Team from a “buy” rating to a “hold” rating in a report on Monday, July 16th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Team presently has a consensus rating of “Buy” and a consensus target price of $26.50.

NYSE:TISI opened at $20.38 on Thursday. Team has a 52 week low of $12.60 and a 52 week high of $25.55. The company has a current ratio of 2.61, a quick ratio of 2.50 and a debt-to-equity ratio of 0.86.

Team (NYSE:TISI) last posted its earnings results on Monday, November 5th. The business services provider reported ($0.56) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.25). The company had revenue of $290.86 million for the quarter, compared to the consensus estimate of $307.10 million. Team had a negative net margin of 5.84% and a negative return on equity of 5.97%. As a group, equities research analysts expect that Team will post -1.06 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of TISI. Eagle Asset Management Inc. boosted its position in shares of Team by 420.0% during the third quarter. Eagle Asset Management Inc. now owns 528,840 shares of the business services provider’s stock worth $11,898,000 after buying an additional 427,138 shares during the period. BlackRock Inc. boosted its position in shares of Team by 7.4% during the second quarter. BlackRock Inc. now owns 4,154,901 shares of the business services provider’s stock worth $95,979,000 after buying an additional 286,802 shares during the period. WINTON GROUP Ltd boosted its position in shares of Team by 57.9% during the second quarter. WINTON GROUP Ltd now owns 534,178 shares of the business services provider’s stock worth $12,340,000 after buying an additional 195,925 shares during the period. Monarch Partners Asset Management LLC acquired a new position in shares of Team during the third quarter worth approximately $3,424,000. Finally, Victory Capital Management Inc. boosted its position in shares of Team by 7.8% during the second quarter. Victory Capital Management Inc. now owns 1,440,426 shares of the business services provider’s stock worth $33,273,000 after buying an additional 104,726 shares during the period.

About Team

Team, Inc provides specialty industrial services in the United States, Canada, Europe, and internationally. The company operates through three segments: TeamQualspec Group (TeamQualspec), TeamFurmanite Group (TeamFurmanite), and Quest Integrity. The TeamQualspec segment offers non-destructive evaluation and testing, radiographic testing, ultrasonic testing, magnetic particle inspection, liquid penetrant inspection, positive material identification, electromagnetic testing, eddy current testing, and alternating current field measurement services.

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