California Public Employees Retirement System reduced its stake in Team, Inc. (NYSE:TISI) by 17.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,520 shares of the business services provider’s stock after selling 17,430 shares during the quarter. California Public Employees Retirement System owned about 0.27% of Team worth $1,883,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Advisors Preferred LLC bought a new stake in shares of Team in the 2nd quarter worth approximately $141,000. Piedmont Investment Advisors LLC bought a new stake in shares of Team in the 2nd quarter worth approximately $161,000. Barclays PLC boosted its position in shares of Team by 98.9% in the 1st quarter. Barclays PLC now owns 9,235 shares of the business services provider’s stock worth $127,000 after purchasing an additional 4,592 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Team in the 2nd quarter worth approximately $237,000. Finally, SG Americas Securities LLC bought a new stake in shares of Team in the 2nd quarter worth approximately $239,000.
TISI has been the topic of a number of analyst reports. ValuEngine raised Team from a “hold” rating to a “buy” rating in a research report on Thursday, July 5th. Zacks Investment Research raised Team from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Finally, KeyCorp boosted their price target on Team from $24.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, August 10th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Team presently has a consensus rating of “Buy” and a consensus price target of $26.00.
Shares of TISI opened at $19.90 on Thursday. The company has a current ratio of 2.86, a quick ratio of 2.50 and a debt-to-equity ratio of 0.86. Team, Inc. has a 52 week low of $11.50 and a 52 week high of $25.55. The company has a market capitalization of $577.61 million, a PE ratio of -47.38 and a beta of 1.76.
Team (NYSE:TISI) last issued its quarterly earnings results on Tuesday, August 7th. The business services provider reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.14). Team had a negative return on equity of 4.72% and a negative net margin of 10.73%. The company had revenue of $343.89 million during the quarter, compared to the consensus estimate of $337.70 million. As a group, analysts forecast that Team, Inc. will post -1.06 earnings per share for the current fiscal year.
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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