TIC Solutions (NYSE:TIC) Shares Up 10.6% – Here’s What Happened

TIC Solutions, Inc (NYSE:TIC)’s share price shot up 10.6% during trading on Monday. The company traded as high as $11.49 and last traded at $11.4680. Approximately 258,683 shares were traded during trading, a decline of 88% from the average session volume of 2,238,232 shares. The stock had previously closed at $10.37.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of TIC Solutions from a “sell” rating to a “hold” rating in a report on Saturday. Robert W. Baird set a $10.00 price objective on shares of TIC Solutions in a report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TIC Solutions in a research report on Friday, September 4th. UBS Group reaffirmed a “buy” rating on shares of TIC Solutions in a research report on Monday, October 19th. Finally, Zacks Research raised TIC Solutions from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 15th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, TIC Solutions presently has a consensus rating of “Hold” and a consensus price target of $12.00.

TIC Solutions Stock Performance

The stock has a 50 day moving average price of $9.33 and a two-hundred day moving average price of $8.76. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.91 and a current ratio of 2.23.

TIC Solutions (NYSE:TIC) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.03. TIC Solutions had a negative return on equity of 0.09% and a negative net margin of 5.10%. The business had revenue of $639.62 million during the quarter. Equities research analysts predict that TIC Solutions, Inc will post 0.29 earnings per share for the current year.

Institutional Investors Weigh In On TIC Solutions

Institutional investors have recently modified their holdings of the business. Permian Investment Partners LP acquired a new position in shares of TIC Solutions in the second quarter valued at about $172,398,660. Progeny 3 Inc. raised its stake in TIC Solutions by 0.6% in the 1st quarter. Progeny 3 Inc. now owns 15,323,105 shares of the company’s stock worth $100,826,000 after purchasing an additional 92,015 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in TIC Solutions by 8.2% in the 1st quarter. Bank of New York Mellon Corp now owns 5,385,942 shares of the company’s stock valued at $35,440,000 after purchasing an additional 406,255 shares during the period. Jefferies Financial Group Inc. bought a new stake in TIC Solutions in the 2nd quarter valued at about $40,450,000. Finally, Dimensional Fund Advisors LP boosted its holdings in TIC Solutions by 9.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,573,446 shares of the company’s stock valued at $23,514,000 after purchasing an additional 308,840 shares during the period.

TIC Solutions Company Profile

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.