TIC Solutions (NYSE:TIC) Stock Price Up 13.7% – Here’s What Happened

TIC Solutions, Inc (NYSE:TIC)’s stock price traded up 13.7% during mid-day trading on Friday . The stock traded as high as $9.88 and last traded at $9.8730. Approximately 1,253,380 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 2,481,136 shares. The stock had previously closed at $8.68.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TIC. Robert W. Baird set a $10.00 target price on TIC Solutions in a research report on Friday. Roth Capital reissued a “buy” rating and set a $11.50 price target on shares of TIC Solutions in a research report on Thursday, May 7th. Zacks Research upgraded TIC Solutions from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. lifted their price objective on TIC Solutions from $7.00 to $9.00 and gave the company an “underweight” rating in a report on Thursday, May 7th. Finally, UBS Group upped their price objective on shares of TIC Solutions from $8.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.30.

TIC Solutions Price Performance

The stock has a fifty day moving average price of $7.90 and a 200-day moving average price of $8.50. The firm has a market capitalization of $2.22 billion, a PE ratio of -17.35 and a beta of 2.83. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.06 and a current ratio of 3.06.

Hedge Funds Weigh In On TIC Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in TIC. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of TIC Solutions during the fourth quarter valued at about $2,246,000. Tudor Investment Corp ET AL purchased a new position in shares of TIC Solutions in the 3rd quarter worth approximately $1,832,000. Swedbank AB grew its position in shares of TIC Solutions by 7.0% in the 1st quarter. Swedbank AB now owns 4,380,000 shares of the company’s stock worth $28,820,000 after buying an additional 286,000 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of TIC Solutions by 9.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,573,446 shares of the company’s stock worth $23,514,000 after acquiring an additional 308,840 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of TIC Solutions by 8.2% during the 1st quarter. Bank of New York Mellon Corp now owns 5,385,942 shares of the company’s stock worth $35,440,000 after acquiring an additional 406,255 shares in the last quarter.

TIC Solutions Company Profile

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.