Team (NYSE:TISI) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Team (NYSE:TISI) from a strong-buy rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

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 stock opened at $17.89 on Wednesday. The stock has a market capitalization of $541.89 million, a P/E ratio of -22.94 and a beta of 1.59. The firm has a 50-day simple moving average of $17.34 and a 200-day simple moving average of $16.41. The company has a quick ratio of 2.08, a current ratio of 2.39 and a debt-to-equity ratio of 0.93. Team has a 52 week low of $13.90 and a 52 week high of $21.56.

Team (NYSE:TISI) last released its earnings results on Tuesday, August 6th. The business services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15. Team had a negative net margin of 2.75% and a negative return on equity of 2.49%. The business had revenue of $315.83 million during the quarter, compared to analysts’ expectations of $335.70 million. On average, analysts expect that Team will post -0.09 earnings per share for the current year.

In other Team news, Director Robert C. Skaggs, Jr. acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was bought at an average price of $16.21 per share, with a total value of $32,420.00. Following the purchase, the director now owns 1,600 shares in the company, valued at $25,936. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FDx Advisors Inc. purchased a new stake in Team during the 2nd quarter valued at about $165,000. Swiss National Bank grew its stake in shares of Team by 2.1% in the 2nd quarter. Swiss National Bank now owns 53,155 shares of the business services provider’s stock valued at $814,000 after buying an additional 1,100 shares during the period. Aperio Group LLC purchased a new stake in shares of Team in the 2nd quarter valued at approximately $156,000. Atria Investments LLC purchased a new stake in shares of Team in the 2nd quarter valued at approximately $1,671,000. Finally, Delta Investment Management LLC purchased a new stake in shares of Team in the 2nd quarter valued at approximately $164,000.

Team Company Profile

Team, Inc provides specialty industrial services in the United States, Canada, Europe, and internationally. It operates through three segments: Inspection and Heat Treating Group (IHT), Mechanical Services Group (MS), and Quest Integrity Group (Quest Integrity). The IHT segment offers non-destructive evaluation and testing, radiographic testing, ultrasonic testing, magnetic particle inspection, liquid penetrant inspection, positive material identification, electromagnetic testing, alternating current field measurement, and eddy current testing services.

Featured Story: Leveraged Buyout (LBO)

Get a free copy of the Zacks research report on Team (TISI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Team Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Team and related companies with MarketBeat.com's FREE daily email newsletter.