UBS Group Issues Pessimistic Forecast for Acuren (NYSEAMERICAN:TIC) Stock Price

Acuren (NYSEAMERICAN:TIC) had its target price dropped by stock analysts at UBS Group from $15.00 to $11.50 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential upside of 16.51% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. Jefferies Financial Group reissued a “buy” rating and set a $15.00 price target on shares of Acuren in a research report on Friday. Baird R W raised Acuren to a “hold” rating in a research report on Thursday, October 9th. Finally, Robert W. Baird began coverage on shares of Acuren in a report on Thursday, October 9th. They issued a “neutral” rating and a $15.00 price objective for the company. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.83.

Acuren Trading Down 4.0%

Acuren stock traded down $0.41 during trading on Friday, hitting $9.87. 2,161,979 shares of the company were exchanged, compared to its average volume of 1,658,904. The firm has a 50 day simple moving average of $12.50. Acuren has a 52 week low of $8.76 and a 52 week high of $14.94.

Institutional Investors Weigh In On Acuren

A number of institutional investors and hedge funds have recently bought and sold shares of TIC. Two Sigma Investments LP lifted its position in Acuren by 345.8% during the third quarter. Two Sigma Investments LP now owns 87,379 shares of the company’s stock valued at $1,163,000 after purchasing an additional 67,779 shares during the last quarter. Comerica Bank bought a new position in shares of Acuren in the 3rd quarter worth $276,000. Portolan Capital Management LLC purchased a new stake in shares of Acuren during the 3rd quarter valued at $6,295,000. EHP Funds Inc. purchased a new stake in shares of Acuren during the 3rd quarter valued at $873,000. Finally, Sei Investments Co. lifted its holdings in shares of Acuren by 59.8% during the 3rd quarter. Sei Investments Co. now owns 22,302 shares of the company’s stock worth $297,000 after acquiring an additional 8,343 shares during the last quarter.

Acuren 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.