TIC Solutions (NYSE:TIC) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of TIC Solutions (NYSE:TIC) from an underweight rating to a neutral rating in a research report sent to investors on Friday morning, Marketbeat Ratings reports. They currently have $11.00 price objective on the stock, up from their prior price objective of $9.00.

Several other analysts also recently commented on TIC. UBS Group upgraded shares of TIC Solutions from a “neutral” rating to a “buy” rating and upped their price target for the company from $11.00 to $12.50 in a research report on Tuesday, August 11th. Zacks Research raised shares of TIC Solutions from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 15th. Roth Capital reissued a “buy” rating and set a $11.50 price objective on shares of TIC Solutions in a research 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. Finally, Robert W. Baird set a $10.00 target price on shares of TIC Solutions in a report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.00.

TIC Solutions Trading Down 0.1%

NYSE:TIC opened at $9.50 on Friday. The company has a market capitalization of $2.07 billion, a PE ratio of -16.38 and a beta of 2.83. TIC Solutions has a 52-week low of $6.36 and a 52-week high of $14.94. The stock’s 50 day moving average price is $8.19 and its 200 day moving average price is $8.42. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 0.76.

TIC Solutions (NYSE:TIC) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. The company had revenue of $584.35 million during the quarter. TIC Solutions had a negative return on equity of 2.30% and a negative net margin of 5.64%. On average, research analysts anticipate that TIC Solutions will post 0.31 EPS for the current year.

Hedge Funds Weigh In On TIC Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in TIC. Goldman Sachs Group Inc. purchased a new position in shares of TIC Solutions during the 1st quarter worth approximately $4,429,000. JPMorgan Chase & Co. boosted its stake in shares of TIC Solutions by 1,512.2% in the second quarter. JPMorgan Chase & Co. now owns 48,946 shares of the company’s stock valued at $540,000 after buying an additional 45,910 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of TIC Solutions in the second quarter valued at approximately $666,000. Rhumbline Advisers acquired a new position in TIC Solutions during the second quarter worth $1,531,000. Finally, Prudential Financial Inc. acquired a new position in TIC Solutions during the second quarter worth $132,000.

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.