Team Inc. (NYSE:TISI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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. “
Separately, KeyCorp reiterated a “buy” rating on shares of Team in a research report on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold”.
Team (NYSE:TISI) opened at 32.48 on Wednesday. The firm’s market cap is $952.54 million. The stock has a 50 day moving average price of $31.44 and a 200-day moving average price of $28.76. Team has a one year low of $21.61 and a one year high of $39.52.
Team (NYSE:TISI) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.37 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.02. Team had a return on equity of 6.80% and a net margin of 1.27%. Analysts predict that Team will post $1.08 EPS for the current fiscal year.
In other Team news, Director Emmett J. Lescroart sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $31.72, for a total transaction of $951,600.00. Following the transaction, the director now owns 73,616 shares in the company, valued at $2,335,099.52. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Ted W. Owen sold 2,717 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $31.86, for a total value of $86,563.62. Following the transaction, the chief executive officer now owns 54,030 shares in the company, valued at approximately $1,721,395.80. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of TISI. Mason Street Advisors LLC bought a new position in shares of Team during the second quarter worth about $143,000. Royal Bank of Canada boosted its position in shares of Team by 47.8% in the second quarter. Royal Bank of Canada now owns 527,690 shares of the company’s stock worth $13,102,000 after buying an additional 170,618 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Team by 8.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 139,780 shares of the company’s stock worth $3,471,000 after buying an additional 10,789 shares during the period. Arizona State Retirement System bought a new position in shares of Team during the second quarter worth about $380,000. Finally, Highbridge Capital Management LLC bought a new position in shares of Team during the second quarter worth about $290,000. Hedge funds and other institutional investors own 91.91% of the company’s stock.
Team Company Profile
Team, Inc (Team) provides specialty industrial services, including inspection and assessment, required in maintaining high temperature and high pressure piping systems and vessels that are utilized in the refining, petrochemical, power, pipeline and other heavy industries. The Company conducts its operations in three segments: Inspection and Heat Treating Services (IHT) Group, Mechanical Services (MS) Group and Quest Integrity (Quest Integrity) Group.
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