TIC Solutions (NYSE:TIC) Trading 4.1% Higher – Should You Buy?

Shares of TIC Solutions, Inc (NYSE:TIC) were up 4.1% during mid-day trading on Thursday . The company traded as high as $9.33 and last traded at $9.6420. Approximately 97,119 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 2,400,053 shares. The stock had previously closed at $9.26.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. UBS Group upgraded shares of TIC Solutions from a “neutral” rating to a “buy” rating and lifted their target price for the company from $11.00 to $12.50 in a research report on Tuesday, August 11th. Zacks Research upgraded shares of TIC Solutions from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. raised TIC Solutions from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $9.00 to $11.00 in a report on Friday, August 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of TIC Solutions in a research note on Friday, September 4th. Finally, Robert W. Baird set a $10.00 target price on TIC Solutions in a report on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, TIC Solutions presently has a consensus rating of “Hold” and a consensus target price of $12.00.

TIC Solutions Stock Down 1.6%

The stock has a market capitalization of $1.99 billion, a P/E ratio of -15.72 and a beta of 2.96. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 0.76. The firm’s fifty day moving average is $8.51 and its 200-day moving average is $8.41.

TIC Solutions (NYSE:TIC) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.04. The firm 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 research analysts predict that TIC Solutions, Inc will post 0.29 earnings per share for the current year.

Institutional Investors Weigh In On TIC Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of TIC. Goldman Sachs Group Inc. bought a new position in TIC Solutions in the 1st quarter valued at $4,429,000. JPMorgan Chase & Co. increased its stake in shares of TIC Solutions by 1,512.2% in the second quarter. JPMorgan Chase & Co. now owns 48,946 shares of the company’s stock valued at $540,000 after buying an additional 45,910 shares in the last quarter. Legal & General Group Plc bought a new position in shares of TIC Solutions in the second quarter valued at about $666,000. Rhumbline Advisers bought a new position in shares of TIC Solutions in the second quarter valued at about $1,531,000. Finally, Prudential Financial Inc. acquired a new position in TIC Solutions during the 2nd quarter worth about $132,000.

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.