Zacks Investment Research cut shares of Team (NYSE:TISI) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.
According to Zacks, “Team, Inc. is a professional, full-service provider of specialty industrial services. Team’s current industrial service offering encompasses on-stream leak repair, hot tapping, fugitive emissions monitoring, field machining, technical bolting, field valve repair, NDE inspection and field heat treating. All these services are required in maintaining high temperature, high pressure piping systems and vessels utilized extensively in the refining, petrochemical, power, pipeline, and other heavy industries. Team’s inspection services also serve the aerospace and automotive industries. “
Team stock opened at $17.89 on Wednesday. The firm has a market cap of $541.89 million, a PE ratio of -22.94 and a beta of 1.59. Team has a 52-week low of $13.90 and a 52-week high of $21.56. The company has a quick ratio of 2.08, a current ratio of 2.39 and a debt-to-equity ratio of 0.93. The company’s 50 day moving average is $17.34 and its two-hundred day moving average is $16.41.
Team (NYSE:TISI) last released its earnings results on Tuesday, August 6th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.15. Team had a negative net margin of 2.75% and a negative return on equity of 2.49%. The company had revenue of $315.83 million for the quarter, compared to analyst estimates of $335.70 million. On average, equities research analysts anticipate that Team will post -0.09 earnings per share for the current fiscal year.
In other news, Director Robert C. Skaggs, Jr. acquired 2,000 shares of Team stock in a transaction dated Thursday, August 22nd. The shares were acquired at an average cost of $16.21 per share, for a total transaction of $32,420.00. Following the acquisition, the director now owns 1,600 shares of the company’s stock, valued at $25,936. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.50% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in TISI. Loews Corp acquired a new stake in shares of Team in the 2nd quarter valued at $10,166,000. Nuveen Asset Management LLC purchased a new position in shares of Team in the 2nd quarter valued at $3,915,000. Victory Capital Management Inc. grew its position in shares of Team by 13.2% in the 2nd quarter. Victory Capital Management Inc. now owns 1,276,166 shares of the business services provider’s stock valued at $19,551,000 after buying an additional 149,101 shares during the last quarter. BlackRock Inc. grew its position in shares of Team by 1.3% in the 2nd quarter. BlackRock Inc. now owns 4,522,273 shares of the business services provider’s stock valued at $69,281,000 after buying an additional 59,207 shares during the last quarter. Finally, Engine Capital Management LP grew its position in shares of Team by 1,414.7% in the 2nd quarter. Engine Capital Management LP now owns 62,862 shares of the business services provider’s stock valued at $963,000 after buying an additional 58,712 shares during the last quarter.
Team Company Profile
Team, Inc provides specialty industrial services in the United States, Canada, Europe, and internationally. It operates through three segments: Inspection and Heat Treating Group (IHT), Mechanical Services Group (MS), and Quest Integrity Group (Quest Integrity). The IHT segment offers non-destructive evaluation and testing, radiographic testing, ultrasonic testing, magnetic particle inspection, liquid penetrant inspection, positive material identification, electromagnetic testing, alternating current field measurement, and eddy current testing services.
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