TIC Solutions, Inc (NYSE:TIC) Given Average Rating of “Hold” by Analysts

TIC Solutions, Inc (NYSE:TIC) has been given an average rating of “Hold” by the seven analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $12.00.

A number of equities analysts have recently weighed in on TIC shares. JPMorgan Chase & Co. raised TIC Solutions from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $9.00 to $11.00 in a research report on Friday, August 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TIC Solutions in a report on Friday, September 4th. Robert W. Baird set a $10.00 price objective on TIC Solutions in a research report on Friday, August 7th. UBS Group raised TIC Solutions from a “neutral” rating to a “buy” rating and raised their price objective for the company from $11.00 to $12.50 in a report on Tuesday, August 11th. Finally, Zacks Research upgraded TIC Solutions from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 15th.

Institutional Trading of TIC Solutions

A number of hedge funds have recently made changes to their positions in TIC. Permian Investment Partners LP bought a new stake in shares of TIC Solutions in the 2nd quarter worth $172,398,660. Progeny 3 Inc. grew its stake in shares of TIC Solutions by 0.6% during the 1st quarter. Progeny 3 Inc. now owns 15,323,105 shares of the company’s stock valued at $100,826,000 after acquiring an additional 92,015 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of TIC Solutions in the second quarter worth $40,450,000. Bank of New York Mellon Corp raised its holdings in TIC Solutions by 8.2% during the first quarter. Bank of New York Mellon Corp now owns 5,385,942 shares of the company’s stock valued at $35,440,000 after acquiring an additional 406,255 shares during the period. Finally, Swedbank AB raised its stake in TIC Solutions by 7.0% during 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 period.

TIC Solutions Price Performance

TIC stock opened at $9.45 on Tuesday. 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 has a 12 month low of $6.36 and a 12 month high of $14.94. The firm has a market cap of $2.06 billion, a P/E ratio of -16.28 and a beta of 2.96. The company’s 50-day moving average price is $8.59 and its two-hundred day moving average price is $8.41.

TIC Solutions (NYSE:TIC) last released its earnings results on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. The firm had revenue of $584.35 million for the quarter. TIC Solutions had a negative return on equity of 2.30% and a negative net margin of 5.64%. On average, analysts anticipate that TIC Solutions will post 0.29 earnings per share for the current fiscal year.

About TIC Solutions

Acuren Corporation provides critical asset integrity services in North America. Its activities include various nondestructive testing (NDT) solutions, such as radiography, ultrasonic testing, magnetic particle inspection, penetrant testing, and visual inspection. Its NDT activities include inspection and evaluation of industrial equipment through various technology-enabled methods to ensure asset integrity, avoid accidents, and comply with regulatory requirements without destroying the asset or component.