Royal Bank of Canada Trims Stock Position in TIC Solutions, Inc $TIC

Royal Bank of Canada cut its stake in TIC Solutions, Inc (NYSE:TIC) by 52.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,983 shares of the company’s stock after selling 71,044 shares during the quarter. Royal Bank of Canada’s holdings in TIC Solutions were worth $428,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. National Bank of Canada FI purchased a new position in shares of TIC Solutions during the third quarter valued at about $53,000. Principal Financial Group Inc. purchased a new stake in TIC Solutions in the first quarter worth about $69,000. Tower Research Capital LLC TRC purchased a new stake in TIC Solutions in the second quarter worth about $82,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in TIC Solutions by 10.1% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,688 shares of the company’s stock valued at $83,000 after acquiring an additional 1,165 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in TIC Solutions during the 2nd quarter valued at approximately $97,000.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TIC shares. Zacks Research raised TIC Solutions from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 15th. Weiss Ratings restated a “sell (d-)” rating on shares of TIC Solutions in a research report on Tuesday, June 9th. Roth Capital reiterated a “buy” rating and issued a $11.50 price objective on shares of TIC Solutions in a report on Thursday, May 7th. UBS Group raised TIC Solutions from a “neutral” rating to a “buy” rating and raised their price objective for the company from $11.00 to $12.50 in a research report on Tuesday, August 11th. Finally, Robert W. Baird set a $10.00 target price on shares of TIC Solutions in a report on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.00.

TIC Solutions Price Performance

Shares of NYSE:TIC opened at $9.70 on Wednesday. TIC Solutions, Inc has a 1-year low of $6.36 and a 1-year high of $14.94. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.91 and a quick ratio of 2.91. The business has a fifty day moving average price of $8.23 and a 200-day moving average price of $8.42. The company has a market capitalization of $2.12 billion, a PE ratio of -16.72 and a beta of 2.83.

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, topping analysts’ consensus estimates of $0.10 by $0.04. The company had revenue of $584.35 million for the quarter. TIC Solutions had a negative net margin of 5.64% and a negative return on equity of 2.30%. As a group, equities analysts expect that TIC Solutions, Inc will post 0.31 EPS for the current fiscal year.

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.