TIC Solutions, Inc (NYSE:TIC) Receives $11.20 Consensus Target Price from Brokerages

TIC Solutions, Inc (NYSE:TIC) has been given an average rating of “Hold” by the seven ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $11.20.

A number of brokerages have recently weighed in on TIC. Roth Mkm initiated coverage on shares of TIC Solutions in a report on Tuesday, March 17th. They issued a “buy” rating and a $10.00 price objective for the company. Weiss Ratings assumed coverage on shares of TIC Solutions in a research report on Thursday, March 12th. They issued a “sell (d-)” rating on the stock. Zacks Research downgraded shares of TIC Solutions from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 12th. JPMorgan Chase & Co. restated a “neutral” rating and set a $8.00 price target (down from $14.00) on shares of TIC Solutions in a research report on Friday, March 13th. Finally, UBS Group reduced their price objective on TIC Solutions from $11.50 to $8.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 17th.

TIC Solutions Price Performance

TIC opened at $7.58 on Tuesday. The stock has a 50-day moving average price of $9.64 and a 200-day moving average price of $10.77. TIC Solutions has a 12-month low of $6.73 and a 12-month high of $14.94. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $1.68 billion and a P/E ratio of -14.03.

TIC Solutions (NYSE:TIC) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.29). The firm had revenue of $508.27 million for the quarter, compared to analysts’ expectations of $531.05 million. TIC Solutions had a negative net margin of 5.69% and a negative return on equity of 4.37%.

Hedge Funds Weigh In On TIC Solutions

A number of large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. bought a new stake in TIC Solutions in the first quarter valued at approximately $4,429,000. ProShare Advisors LLC bought a new position in shares of TIC Solutions in the second quarter worth approximately $234,000. Geode Capital Management LLC purchased a new position in shares of TIC Solutions in the second quarter worth $25,003,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of TIC Solutions in the second quarter worth $249,000. Finally, Intech Investment Management LLC bought a new stake in TIC Solutions during the 2nd quarter valued at $521,000.

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.