TIC Solutions (NYSE:TIC) Shares Gap Down Following Weak Earnings

TIC Solutions, Inc. (NYSE:TIC) shares gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $7.69, but opened at $7.30. TIC Solutions shares last traded at $7.48, with a volume of 1,207,008 shares trading hands.

The company reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.29). The business had revenue of $508.27 million for the quarter, compared to the consensus estimate of $531.05 million.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $8.00 price target (down from $14.00) on shares of TIC Solutions in a research note on Friday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.00.

TIC Solutions Trading Down 1.3%

The firm has a market cap of $1.67 billion and a PE ratio of -18.07.

About TIC Solutions

TIC Solutions, Inc provides critical asset integrity services in North America. The company offers testing, inspection, certification, and compliance (TICC) services, including various nondestructive testing (NDT) techniques, 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, prevent costly outages, failures, and accidents, and meet regulatory requirements without damaging the asset or component.