TIC Solutions (NYSE:TIC) Price Target Lowered to $8.00 at UBS Group

TIC Solutions (NYSE:TIC) had its price objective trimmed by UBS Group from $11.50 to $8.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research firms have also commented on TIC. Roth Mkm began coverage on shares of TIC Solutions in a research report on Tuesday. They issued a “buy” rating and a $10.00 price objective on the stock. JPMorgan Chase & Co. restated a “neutral” rating and set a $8.00 target price (down from $14.00) on shares of TIC Solutions in a report on Friday, March 13th. Weiss Ratings initiated coverage on shares of TIC Solutions in a research report on Thursday, March 12th. They set a “sell (d-)” rating for the company. Finally, Zacks Research downgraded shares of TIC Solutions from a “hold” rating to a “strong sell” rating in a report on Thursday, March 12th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $11.20.

TIC Solutions Price Performance

NYSE TIC opened at $7.84 on Tuesday. The business has a 50 day moving average price of $9.83 and a 200 day moving average price of $10.84. The company has a market capitalization of $1.73 billion and a P/E ratio of -14.52. TIC Solutions has a 1-year low of $6.73 and a 1-year high of $14.94.

TIC Solutions (NYSE:TIC) last posted its earnings results on Thursday, March 12th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.29). The business had revenue of $508.27 million during the quarter, compared to the consensus estimate of $531.05 million.

Hedge Funds Weigh In On TIC Solutions

Several institutional investors have recently bought and sold shares of TIC. Granite FO LLC acquired a new position in shares of TIC Solutions during the 3rd quarter valued at about $27,000. Nisa Investment Advisors LLC lifted its holdings in TIC Solutions by 123.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,277 shares of the company’s stock worth $30,000 after purchasing an additional 1,258 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in TIC Solutions during the third quarter worth approximately $33,000. Blue Trust Inc. acquired a new stake in shares of TIC Solutions in the third quarter worth $38,000. Finally, Clearstead Advisors LLC acquired a new stake in shares of TIC Solutions in the third quarter worth $43,000.

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.