Zacks Research Downgrades TIC Solutions (NYSE:TIC) to Strong Sell

TIC Solutions (NYSE:TIC) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

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

TIC Solutions Price Performance

Shares of NYSE TIC opened at $8.44 on Monday. TIC Solutions has a fifty-two week low of $6.36 and a fifty-two week high of $14.94. The firm’s 50-day simple moving average is $8.52 and its 200 day simple moving average is $9.18. 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 stock has a market cap of $1.86 billion, a P/E ratio of -16.22 and a beta of 2.90.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new position in TIC Solutions during the third quarter worth about $33,000. Clearstead Advisors LLC acquired a new position in TIC Solutions during the third quarter worth about $43,000. National Bank of Canada FI acquired a new position in TIC Solutions during the third quarter worth about $53,000. Tower Research Capital LLC TRC acquired a new position in TIC Solutions during the second quarter worth about $82,000. Finally, Dauntless Investment Group LLC acquired a new position in TIC Solutions during the third quarter worth about $110,000.

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.