TIC Solutions, Inc (NYSE:TIC) Receives $11.00 Consensus PT from Analysts

Shares of TIC Solutions, Inc (NYSE:TIC) have earned a consensus recommendation of “Reduce” from the seven analysts that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $11.00.

A number of equities analysts have recently commented on TIC shares. Weiss Ratings started coverage on TIC Solutions in a research report on Thursday, March 12th. They set a “sell (d-)” rating for the company. JPMorgan Chase & Co. reissued an “underweight” rating and set a $7.00 price objective (down from $8.00) on shares of TIC Solutions in a research report on Thursday, March 26th. Roth Mkm started coverage on TIC Solutions in a research report on Tuesday, March 17th. They set a “buy” rating and a $10.00 price objective for the company. Zacks Research downgraded TIC Solutions from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 12th. Finally, UBS Group lowered their price objective on TIC Solutions from $11.50 to $8.00 and set a “neutral” rating for the company in a research report on Tuesday, March 17th.

TIC Solutions Stock Up 1.0%

Shares of NYSE:TIC opened at $7.23 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.20 and a quick ratio of 3.20. The firm has a market capitalization of $1.60 billion, a PE ratio of -13.38 and a beta of 2.46. The firm’s 50-day moving average is $8.41 and its two-hundred day moving average is $10.16. TIC Solutions has a 1 year low of $6.36 and a 1 year high of $14.94.

TIC Solutions (NYSE:TIC) last issued its quarterly earnings results on Thursday, March 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.29). The business had revenue of $508.27 million for the quarter, compared to analysts’ expectations of $531.05 million. TIC Solutions had a negative return on equity of 4.37% and a negative net margin of 5.69%.

Hedge Funds Weigh In On TIC Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TIC. Goldman Sachs Group Inc. acquired a new position in TIC Solutions in the first quarter valued at approximately $4,429,000. JPMorgan Chase & Co. boosted its holdings in 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 purchasing an additional 45,910 shares in the last quarter. Legal & General Group Plc acquired a new position in TIC Solutions in the second quarter valued at approximately $666,000. Rhumbline Advisers acquired a new position in TIC Solutions in the second quarter valued at approximately $1,531,000. Finally, Prudential Financial Inc. acquired a new position in TIC Solutions in the second quarter valued at approximately $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.