TIC Solutions (NYSE:TIC) Stock Price Up 13.7% – Here’s What Happened

TIC Solutions, Inc (NYSE:TIC) shares were up 13.7% on Friday . The company traded as high as $9.88 and last traded at $9.8730. Approximately 1,253,380 shares changed hands during trading, a decline of 49% from the average daily volume of 2,481,136 shares. The stock had previously closed at $8.68.

Analysts Set New Price Targets

Several equities analysts have recently commented on TIC shares. Roth Capital restated a “buy” rating and issued a $11.50 price objective on shares of TIC Solutions in a research report on Thursday, May 7th. JPMorgan Chase & Co. boosted their price target on TIC Solutions from $7.00 to $9.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of TIC Solutions in a research note on Tuesday, June 9th. UBS Group increased their price objective on shares of TIC Solutions from $8.00 to $11.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, Robert W. Baird set a $10.00 price objective on shares of TIC Solutions in a research report on Friday. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $11.30.

TIC Solutions Trading Up 13.7%

The firm has a market cap of $2.18 billion, a P/E ratio of -19.00 and a beta of 2.83. The stock has a 50 day simple moving average of $7.86 and a 200-day simple moving average of $8.49. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 0.74.

Institutional Investors Weigh In On TIC Solutions

A number of hedge funds have recently bought and sold shares of TIC. National Bank of Canada FI purchased a new position in shares of TIC Solutions in the 3rd quarter worth $53,000. Tower Research Capital LLC TRC purchased a new position in TIC Solutions in the second quarter worth about $82,000. Dauntless Investment Group LLC purchased a new stake in TIC Solutions during the third quarter valued at approximately $110,000. BNP Paribas Financial Markets bought a new stake in shares of TIC Solutions in the 2nd quarter valued at approximately $97,000. Finally, Financial Avengers Inc. purchased a new position in shares of TIC Solutions in the 3rd quarter worth approximately $120,000.

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.