TIC Solutions (NYSE:TIC) Price Target Raised to $11.00

TIC Solutions (NYSE:TIC) had its price target raised by UBS Group from $8.00 to $11.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other analysts also recently weighed in on the stock. Weiss Ratings initiated coverage on shares of TIC Solutions in a report on Thursday, March 12th. They set a “sell (d-)” rating for the company. JPMorgan Chase & Co. upped their price target on shares of TIC Solutions from $7.00 to $9.00 and gave the stock an “underweight” rating in a report on Thursday. Roth Mkm initiated coverage on shares of TIC Solutions in a report on Tuesday, March 17th. They set a “buy” rating and a $10.00 price target for the company. Robert W. Baird set a $11.00 price target on shares of TIC Solutions in a report on Thursday. Finally, Zacks Research downgraded shares of TIC Solutions from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 12th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $11.50.

TIC Solutions Stock Performance

Shares of TIC Solutions stock opened at $9.93 on Thursday. The company has a 50 day moving average of $8.17 and a 200-day moving average of $9.65. TIC Solutions has a 1-year low of $6.36 and a 1-year high of $14.94. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.73. The company has a market cap of $2.19 billion, a PE ratio of -19.09 and a beta of 3.21.

TIC Solutions (NYSE:TIC) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.19) earnings per share for the quarter. TIC Solutions had a negative return on equity of 4.02% and a negative net margin of 5.77%.The firm had revenue of $488.03 million for the quarter. As a group, equities research analysts forecast that TIC Solutions will post 0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TIC Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Progeny 3 Inc. lifted its stake in TIC Solutions by 1.7% in the 3rd quarter. Progeny 3 Inc. now owns 15,255,800 shares of the company’s stock valued at $203,055,000 after purchasing an additional 255,800 shares during the last quarter. Vanguard Group Inc. lifted its stake in TIC Solutions by 100.8% in the 3rd quarter. Vanguard Group Inc. now owns 8,528,717 shares of the company’s stock valued at $113,517,000 after purchasing an additional 4,280,384 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in TIC Solutions by 8.2% in the 1st quarter. Bank of New York Mellon Corp now owns 5,385,942 shares of the company’s stock valued at $35,440,000 after purchasing an additional 406,255 shares during the last quarter. Swedbank AB lifted its stake in TIC Solutions by 7.0% in the 1st quarter. Swedbank AB now owns 4,380,000 shares of the company’s stock valued at $28,820,000 after purchasing an additional 286,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in TIC Solutions by 9.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,573,446 shares of the company’s stock valued at $23,514,000 after purchasing an additional 308,840 shares during the last quarter.

About TIC Solutions

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.