JPMorgan Chase & Co. Initiates Coverage on Acuren (NYSEAMERICAN:TIC)

Investment analysts at JPMorgan Chase & Co. started coverage on shares of Acuren (NYSEAMERICAN:TIC) in a note issued to investors on Friday,Benzinga reports. The brokerage set an “overweight” rating and a $16.00 price target on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 47.06% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. UBS Group cut their price target on shares of Acuren from $15.00 to $11.50 and set a “neutral” rating for the company in a research note on Friday, November 14th. Zacks Research raised Acuren to a “hold” rating in a report on Tuesday, December 16th. Baird R W upgraded Acuren to a “hold” rating in a research report on Thursday, October 9th. Robert W. Baird assumed coverage on Acuren in a research report on Thursday, October 9th. They issued a “neutral” rating and a $15.00 price target on the stock. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $15.00 price objective on shares of Acuren in a research note on Friday, November 14th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $14.38.

Acuren Stock Up 8.9%

NYSEAMERICAN:TIC opened at $10.88 on Friday. The company has a 50-day moving average of $10.24 and a 200-day moving average of $11.18. Acuren has a 52 week low of $8.76 and a 52 week high of $14.94.

Hedge Funds Weigh In On Acuren

Institutional investors have recently bought and sold shares of the business. Progeny 3 Inc. grew its holdings in shares of Acuren by 1.7% during the third quarter. Progeny 3 Inc. now owns 15,255,800 shares of the company’s stock worth $203,055,000 after purchasing an additional 255,800 shares during the last quarter. Vanguard Group Inc. lifted its position in Acuren by 100.8% during the 3rd quarter. Vanguard Group Inc. now owns 8,528,717 shares of the company’s stock worth $113,517,000 after buying an additional 4,280,384 shares in the last quarter. Swedbank AB bought a new stake in Acuren during the 3rd quarter worth about $43,923,000. Dimensional Fund Advisors LP bought a new position in shares of Acuren in the third quarter worth about $43,579,000. Finally, Cercano Management LLC acquired a new position in shares of Acuren during the third quarter worth approximately $38,629,000.

Acuren 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.