Rhumbline Advisers Grows Position in Team, Inc. (TISI)
Rhumbline Advisers increased its holdings in Team, Inc. (NYSE:TISI) by 3.9% in the second quarter, HoldingsChannel.com reports. The fund owned 72,134 shares of the business services provider’s stock after purchasing an additional 2,687 shares during the quarter. Rhumbline Advisers’ holdings in Team were worth $1,666,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in TISI. Barclays PLC lifted its stake in Team by 98.9% in the first quarter. Barclays PLC now owns 9,235 shares of the business services provider’s stock worth $127,000 after acquiring an additional 4,592 shares during the period. FDx Advisors Inc. purchased a new stake in shares of Team during the first quarter valued at about $139,000. Koch Industries Inc. purchased a new stake in shares of Team during the first quarter valued at about $152,000. Piedmont Investment Advisors LLC purchased a new stake in shares of Team during the second quarter valued at about $161,000. Finally, JBF Capital Inc. purchased a new stake in shares of Team during the first quarter valued at about $232,000.
Several research firms have commented on TISI. Zacks Investment Research raised shares of Team from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 10th. ValuEngine raised shares of Team from a “hold” rating to a “buy” rating in a research report on Thursday, July 5th. Finally, KeyCorp increased their price target on shares of Team from $24.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, August 10th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $26.00.
Team (NYSE:TISI) last released its quarterly earnings results on Tuesday, August 7th. The business services provider reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.14). The firm had revenue of $343.89 million for the quarter, compared to analysts’ expectations of $337.70 million. Team had a negative net margin of 10.73% and a negative return on equity of 4.72%. sell-side analysts expect that Team, Inc. will post -1.06 EPS 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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