Team Inc. (TISI) Upgraded by Zacks Investment Research to “Hold”
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 note on Thursday, June 30th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of Hold.
Team (NYSE:TISI) traded down 2.10% on Wednesday, reaching $31.75. 46,860 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $31.54 and a 200 day moving average price of $29.11. Team has a 12-month low of $21.61 and a 12-month high of $39.52. The stock’s market cap is $931.13 million.
Team (NYSE:TISI) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.37 EPS for the quarter, missing the 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 forecast that Team will post $1.08 EPS for the current year.
In other Team news, Director Emmett J. Lescroart sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $31.72, for a total transaction of $951,600.00. Following the sale, the director now owns 73,616 shares of the company’s stock, valued at approximately $2,335,099.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Ted W. Owen sold 2,717 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $31.86, for a total transaction of $86,563.62. Following the sale, the chief executive officer now directly owns 54,030 shares in the company, valued at approximately $1,721,395.80. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its stake in Team by 20.8% in the second quarter. FMR LLC now owns 2,601,760 shares of the company’s stock valued at $64,601,000 after buying an additional 447,605 shares during the period. Vanguard Group Inc. increased its stake in Team by 12.7% in the second quarter. Vanguard Group Inc. now owns 2,255,552 shares of the company’s stock valued at $56,005,000 after buying an additional 255,016 shares during the period. BlackRock Fund Advisors increased its stake in Team by 160.6% in the second quarter. BlackRock Fund Advisors now owns 1,952,622 shares of the company’s stock valued at $48,484,000 after buying an additional 1,203,405 shares during the period. Dimensional Fund Advisors LP increased its stake in Team by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,229,397 shares of the company’s stock valued at $30,525,000 after buying an additional 36,640 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its stake in Team by 1.7% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,101,050 shares of the company’s stock valued at $27,339,000 after buying an additional 17,975 shares during the period. 91.91% of the stock is currently owned by institutional investors.
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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