TIC Solutions, Inc (NYSE:TIC) Stock Has Average Price Target of $12.00

Shares of TIC Solutions, Inc (NYSE:TIC) have earned a consensus recommendation of “Hold” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $12.00.

A number of research analysts have commented on the stock. Zacks Research raised shares of TIC Solutions from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of TIC Solutions in a research note on Friday, September 4th. Robert W. Baird set a $10.00 price target on shares of TIC Solutions in a research report on Friday, August 7th. UBS Group reissued a “buy” rating on shares of TIC Solutions in a research note on Monday, October 19th. Finally, JPMorgan Chase & Co. raised TIC Solutions from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $9.00 to $11.00 in a report on Friday, August 21st.

Hedge Funds Weigh In On TIC Solutions

Institutional investors and hedge funds have recently bought and sold shares of the business. Permian Investment Partners LP bought a new position in shares of TIC Solutions during the 2nd quarter worth about $172,398,660. Progeny 3 Inc. lifted its position 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 worth $100,826,000 after buying an additional 92,015 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of TIC Solutions in the second quarter worth approximately $40,450,000. Bank of New York Mellon Corp grew its stake in TIC Solutions by 8.2% in 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 grew its position in 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 purchasing an additional 286,000 shares in the last quarter.

TIC Solutions Stock Performance

Shares of TIC Solutions stock opened at $10.03 on Wednesday. The company’s fifty day moving average is $9.19 and its 200 day moving average is $8.78. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -17.29 and a beta of 2.75. 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 twelve month low of $6.36 and a twelve month high of $12.48.

TIC Solutions (NYSE:TIC) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. TIC Solutions had a negative net margin of 5.64% and a negative return on equity of 2.30%. The company had revenue of $584.35 million for the quarter. Sell-side analysts forecast that TIC Solutions will post 0.29 EPS for the current 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.