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

TIC Solutions, Inc (NYSE:TIC) has been given an average rating of “Hold” by the six analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $12.00.

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

TIC Solutions Stock Up 3.0%

NYSE:TIC opened at $10.58 on Wednesday. The firm’s 50 day simple moving average is $9.23 and its 200 day simple moving average is $8.77. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 0.76. TIC Solutions has a one year low of $6.36 and a one year high of $12.10.

TIC Solutions (NYSE:TIC) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.04. The firm had revenue of $584.35 million during the quarter. TIC Solutions had a negative net margin of 5.64% and a negative return on equity of 2.30%. On average, equities analysts anticipate that TIC Solutions will post 0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On TIC Solutions

Hedge funds have recently made changes to their positions in the business. Deutsche Bank AG bought a new position in shares of TIC Solutions during the second quarter valued at $1,510,000. Bank of America Corp DE purchased a new position in shares of TIC Solutions in the 2nd quarter worth approximately $13,631,000. The Manufacturers Life Insurance Company bought a new position in TIC Solutions during the 2nd quarter valued at about $693,000. Quantinno Capital Management LP grew its holdings in shares of TIC Solutions by 605.5% in the first quarter. Quantinno Capital Management LP now owns 177,066 shares of the company’s stock worth $1,165,000 after purchasing an additional 151,968 shares during the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of TIC Solutions in the second quarter valued at approximately $868,000.

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.