Zacks Investment Research Upgrades Team, Inc. (TISI) to “Hold”
Team, Inc. (NYSE:TISI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “TEAM, INC. is a professional full service provider of environmental engineering, consulting, monitoring and repair services. Environmental engineering, consulting and monitoring services, primarily in air quality together with on-stream leak repair and related industrial services for piping systems and process equipment, are provided by subsidiaries of the Company through its Environmental Services business segment. “
TISI has been the topic of a number of other reports. Johnson Rice cut Team from a “buy” rating to a “hold” rating and decreased their price objective for the company from $36.00 to $26.00 in a report on Tuesday, July 25th. BidaskClub upgraded Team from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. TheStreet cut Team from a “c-” rating to a “d+” rating in a report on Tuesday, July 25th. Finally, Stephens cut Team from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $34.00 to $19.00 in a report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $22.50.
Team (NYSE:TISI) traded down 0.40% during midday trading on Wednesday, hitting $12.45. The stock had a trading volume of 163,577 shares. The firm has a 50-day moving average of $12.84 and a 200-day moving average of $20.34. Team has a 12-month low of $10.45 and a 12-month high of $39.70. The company’s market cap is $371.50 million.
Team (NYSE:TISI) last released its quarterly earnings data on Monday, August 7th. The business services provider reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.54). Team had a negative net margin of 2.83% and a negative return on equity of 2.22%. The business had revenue of $312.26 million during the quarter, compared to analyst estimates of $309.60 million. Equities research analysts forecast that Team will post ($0.52) EPS for the current year.
In other news, Director Louis A. Waters bought 17,500 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were bought at an average price of $11.40 per share, with a total value of $199,500.00. Following the completion of the transaction, the director now directly owns 160,580 shares in the company, valued at $1,830,612. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Louis A. Waters bought 12,500 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was purchased at an average cost of $11.40 per share, for a total transaction of $142,500.00. Following the transaction, the director now owns 160,580 shares of the company’s stock, valued at $1,830,612. The disclosure for this purchase can be found here. Insiders purchased 36,000 shares of company stock worth $408,130 over the last quarter. 4.10% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in TISI. BlackRock Inc. raised its position in Team by 121,178.7% in the first quarter. BlackRock Inc. now owns 3,643,211 shares of the business services provider’s stock valued at $98,549,000 after purchasing an additional 3,640,207 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in Team in the fourth quarter valued at approximately $29,928,000. Thrivent Financial For Lutherans raised its position in Team by 252.3% in the first quarter. Thrivent Financial For Lutherans now owns 838,936 shares of the business services provider’s stock valued at $22,693,000 after purchasing an additional 600,810 shares during the period. Chartwell Investment Partners LLC raised its position in Team by 167.3% in the second quarter. Chartwell Investment Partners LLC now owns 872,050 shares of the business services provider’s stock valued at $20,450,000 after purchasing an additional 545,805 shares during the period. Finally, Loomis Sayles & Co. L P raised its position in Team by 513.5% in the fourth quarter. Loomis Sayles & Co. L P now owns 520,278 shares of the business services provider’s stock valued at $20,421,000 after purchasing an additional 435,467 shares during the period. 96.87% of the stock is currently owned by institutional investors.
Team, Inc is a provider of specialty industrial services, including inspection and assessment, required in maintaining high temperature and high pressure piping systems and vessels. The Company conducts its operations through three segments: Inspection and Heat Treating Services (IHT) Group, Mechanical Services (MS) Group and Quest Integrity (Quest Integrity) Group.
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