TIC Solutions (NYSE:TIC) Trading 4.1% Higher – Here’s Why

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on TIC. Robert W. Baird set a $10.00 price target on shares of TIC Solutions in a research note on Friday, August 7th. UBS Group raised shares of 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 note on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of TIC Solutions in a report on Friday, September 4th. Zacks Research raised shares of TIC Solutions from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. upgraded shares of TIC Solutions from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $9.00 to $11.00 in a report on Friday, August 21st. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.00.

TIC Solutions Stock Performance

The company has a market cap of $2.09 billion, a PE ratio of -16.51 and a beta of 2.96. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average of $8.56 and a 200-day moving average of $8.41.

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 the consensus estimate of $0.10 by $0.04. The business had revenue of $584.35 million during the quarter. TIC Solutions had a negative return on equity of 2.30% and a negative net margin of 5.64%. As a group, analysts anticipate that TIC Solutions, Inc will post 0.29 earnings per share for the current year.

Institutional Trading of TIC Solutions

Institutional investors have recently made changes to their positions in the company. Deutsche Bank AG purchased a new position in TIC Solutions during the second quarter worth about $1,510,000. Quantinno Capital Management LP grew its position in TIC Solutions by 605.5% in the 1st quarter. Quantinno Capital Management LP now owns 177,066 shares of the company’s stock worth $1,165,000 after purchasing an additional 151,968 shares in the last quarter. Swedbank AB increased its stake in TIC Solutions by 7.0% in the 1st quarter. Swedbank AB now owns 4,380,000 shares of the company’s stock valued at $28,820,000 after buying an additional 286,000 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in TIC Solutions by 9.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,573,446 shares of the company’s stock valued at $23,514,000 after buying an additional 308,840 shares during the last quarter. Finally, Permian Investment Partners LP bought a new position in shares of TIC Solutions during the 2nd quarter worth approximately $172,398,660.

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.