TIC Solutions (NYSE:TIC) Trading Down 5.1% – Here’s What Happened

TIC Solutions, Inc (NYSE:TIC) shares dropped 5.1% on Thursday . The company traded as low as $7.59 and last traded at $7.5250. Approximately 567,265 shares were traded during mid-day trading, a decline of 78% from the average session volume of 2,524,970 shares. The stock had previously closed at $7.93.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TIC shares. Robert W. Baird set a $11.00 price objective on TIC Solutions in a report on Thursday, May 7th. UBS Group raised their target price on shares of TIC Solutions from $8.00 to $11.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. lifted their target price on shares of TIC Solutions from $7.00 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of TIC Solutions in a research report on Tuesday, June 9th. Finally, Roth Capital reissued a “buy” rating and set a $11.50 price objective on shares of TIC Solutions in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $11.50.

TIC Solutions Trading Down 5.7%

The business’s fifty day moving average price is $8.57 and its 200 day moving average price is $8.98. The company has a quick ratio of 3.06, a current ratio of 3.06 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $1.65 billion, a PE ratio of -14.37 and a beta of 2.81.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC purchased a new position in shares of TIC Solutions during the 1st quarter worth $170,000. Carlson Capital L.P. acquired a new stake in shares of TIC Solutions during the first quarter worth $572,000. Bank of America Corp DE grew its position in shares of TIC Solutions by 219.2% in the first quarter. Bank of America Corp DE now owns 667,523 shares of the company’s stock valued at $4,392,000 after purchasing an additional 458,431 shares during the period. California State Teachers Retirement System increased its stake in TIC Solutions by 35.7% in the first quarter. California State Teachers Retirement System now owns 189,139 shares of the company’s stock valued at $1,245,000 after purchasing an additional 49,794 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in TIC Solutions by 605.5% in the first quarter. Quantinno Capital Management LP now owns 177,066 shares of the company’s stock valued at $1,165,000 after purchasing an additional 151,968 shares during the last quarter.

About TIC Solutions

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.