Team Inc tumbles as co to drop from S&P SmallCap 600

Team

07/09/2021 16:10

** Shares of specialty industrial services provider Team Inc
 TISI.N  down ~16% at $3.78, more than 1-yr low, after S&P index
quarterly rebalance news
    ** Weight management services firm WW International  WW.O 
moving from S&P MidCap 400  .IDX  to replace Team in S&P
SmallCap 600  .SPCY  effective Sept 20  urn:newsml:reuters.com:*:nPn84d94da
    ** "Team has a market capitalization that is no longer
representative of the small-cap market space," S&P Dow Jones
Indices said late Fri
    ** On Aug 4, co's stock dropped 24% to $4.99 after it posted
adj loss of 48 cents/sh vs consensus estimate of 31 cents/sh
loss per Refinitiv IBES data  urn:newsml:reuters.com:*:nPnb3YNr5a
    ** Avg rating among 5 brokerages covering stock is "buy" and
median PT is $10 - Refinitiv
    ** YTD, shares now down 65%   

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))