Brokerages Set TIC Solutions, Inc (NYSE:TIC) Target Price at $11.20

TIC Solutions, Inc (NYSE:TIC) has earned an average rating of “Hold” from the seven analysts that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $11.20.

A number of equities analysts recently weighed in on the stock. Roth Mkm began coverage on TIC Solutions in a report on Tuesday. They issued a “buy” rating and a $10.00 price objective on the stock. Weiss Ratings initiated coverage on shares of TIC Solutions in a research note on Thursday, March 12th. They set a “sell (d-)” rating on the stock. Zacks Research cut shares of TIC Solutions from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 12th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $8.00 price objective (down from $14.00) on shares of TIC Solutions in a research note on Friday, March 13th. Finally, UBS Group dropped their price objective on shares of TIC Solutions from $11.50 to $8.00 and set a “neutral” rating for the company in a report on Tuesday.

Institutional Investors Weigh In On TIC Solutions

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

TIC Solutions Price Performance

NYSE:TIC opened at $7.68 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 3.20 and a current ratio of 3.20. The stock has a 50 day moving average price of $9.72 and a 200 day moving average price of $10.79. The stock has a market cap of $1.70 billion and a PE ratio of -14.22. TIC Solutions has a one year low of $6.73 and a one year high of $14.94.

TIC Solutions (NYSE:TIC) last announced 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). TIC Solutions had a negative return on equity of 4.37% and a negative net margin of 5.69%.The firm had revenue of $508.27 million for the quarter, compared to analyst estimates of $531.05 million.

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.