Zacks Investment Research upgraded shares of Team (NYSE:TISI) from a strong sell rating to a hold rating in a report released on Wednesday, June 6th.
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. “
TISI has been the topic of a number of other reports. KeyCorp raised their price objective on Team to $19.00 and gave the stock an overweight rating in a report on Thursday, February 8th. ValuEngine downgraded Team from a sell rating to a strong sell rating in a report on Thursday, March 15th. Finally, TheStreet upgraded Team from a d rating to a c- rating in a report on Wednesday, March 14th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $20.67.
Team (NYSE:TISI) last posted its quarterly earnings data on Tuesday, May 8th. The business services provider reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.47). Team had a negative net margin of 9.25% and a negative return on equity of 4.79%. The company had revenue of $302.39 million for the quarter, compared to analyst estimates of $289.70 million. analysts anticipate that Team will post -0.83 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Team by 0.6% during the 1st quarter. BlackRock Inc. now owns 3,868,099 shares of the business services provider’s stock valued at $53,187,000 after purchasing an additional 24,919 shares during the period. Dimensional Fund Advisors LP raised its stake in Team by 10.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,421,190 shares of the business services provider’s stock valued at $33,291,000 after acquiring an additional 229,727 shares in the last quarter. Ariel Investments LLC raised its stake in Team by 4.7% during the 4th quarter. Ariel Investments LLC now owns 2,323,566 shares of the business services provider’s stock valued at $34,621,000 after acquiring an additional 104,364 shares in the last quarter. Royal Bank of Canada raised its stake in Team by 1.1% during the 1st quarter. Royal Bank of Canada now owns 1,476,566 shares of the business services provider’s stock valued at $20,303,000 after acquiring an additional 16,353 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new stake in Team during the 1st quarter valued at $18,366,000.
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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