JPMorgan Chase & Co. Boosts TIC Solutions (NYSE:TIC) Price Target to $9.00

TIC Solutions (NYSE:TIC) had its price target boosted by JPMorgan Chase & Co. from $7.00 to $9.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 9.32% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Zacks Research cut shares of TIC Solutions from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 12th. Robert W. Baird set a $11.00 price objective on shares of TIC Solutions in a research note on Thursday. Weiss Ratings started coverage on shares of TIC Solutions in a research note on Thursday, March 12th. They issued a “sell (d-)” rating on the stock. Roth Mkm started coverage on shares of TIC Solutions in a research note on Tuesday, March 17th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, UBS Group lowered their price objective on shares of TIC Solutions from $11.50 to $8.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 17th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, TIC Solutions has an average rating of “Reduce” and a consensus price target of $11.50.

TIC Solutions Stock Performance

NYSE:TIC opened at $9.93 on Thursday. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.73. TIC Solutions has a fifty-two week low of $6.36 and a fifty-two week high of $14.94. The stock has a market cap of $2.19 billion, a PE ratio of -19.09 and a beta of 3.21. The firm’s fifty day simple moving average is $8.17 and its 200-day simple moving average is $9.65.

TIC Solutions (NYSE:TIC) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.19) EPS for the quarter. The business had revenue of $488.03 million during the quarter. TIC Solutions had a negative net margin of 5.77% and a negative return on equity of 4.02%. Analysts expect that TIC Solutions will post 0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TIC Solutions

Hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its stake in shares of TIC Solutions by 123.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,277 shares of the company’s stock worth $30,000 after purchasing an additional 1,258 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of TIC Solutions during the 3rd quarter worth about $33,000. Clearstead Advisors LLC acquired a new stake in shares of TIC Solutions during the 3rd quarter worth about $43,000. National Bank of Canada FI acquired a new stake in shares of TIC Solutions during the 3rd quarter worth about $53,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of TIC Solutions during the 1st quarter worth about $69,000.

TIC Solutions Company Profile

Acuren Group Inc (NYSEAMERICAN:TIC) is a leading provider of non‐destructive testing (NDT), inspection, engineering and consulting services to the energy, petrochemical, manufacturing and infrastructure sectors. The company employs a range of advanced testing techniques—such as ultrasonic, radiographic, magnetic particle, liquid penetrant, eddy current and acoustic emission—to evaluate the integrity of pressure vessels, pipelines, storage tanks and other critical assets. By combining field inspections with laboratory analysis, Acuren helps clients identify defects, prevent equipment failures and meet regulatory requirements.

In addition to core NDT capabilities, Acuren offers specialty engineering and consulting services including fitness‐for‐service assessments, corrosion under insulation surveys, mechanical integrity programs, failure analysis and field machining.