Brokerages Set TIC Solutions, Inc (NYSE:TIC) PT at $12.00

TIC Solutions, Inc (NYSE:TIC) has been given an average recommendation of “Hold” by the seven research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $12.00.

A number of equities research analysts have recently weighed in on the company. Zacks Research upgraded TIC Solutions from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 15th. Robert W. Baird set a $10.00 target price on TIC Solutions in a report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TIC Solutions in a research note on Friday, September 4th. UBS Group upgraded shares of TIC Solutions from a “neutral” rating to a “buy” rating and lifted their price target for the company from $11.00 to $12.50 in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. raised shares of TIC Solutions from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $9.00 to $11.00 in a research report on Friday, August 21st.

TIC Solutions Trading Up 3.3%

Shares of TIC opened at $9.57 on Tuesday. The stock has a market capitalization of $2.09 billion, a P/E ratio of -16.51 and a beta of 2.96. TIC Solutions has a twelve month low of $6.36 and a twelve month high of $14.94. 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 firm has a fifty day simple moving average of $8.56 and a two-hundred day simple moving average of $8.41.

TIC Solutions (NYSE:TIC) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. On average, research analysts anticipate that TIC Solutions will post 0.29 EPS for the current year.

Hedge Funds Weigh In On TIC Solutions

Institutional investors have recently bought and sold shares of the stock. Permian Investment Partners LP bought a new position in TIC Solutions in the second quarter worth $172,398,660. Jefferies Financial Group Inc. bought a new stake in shares of TIC Solutions during the 2nd quarter valued at $40,450,000. Dimensional Fund Advisors LP bought a new stake in shares of TIC Solutions during the 3rd quarter valued at $43,579,000. Millennium Management LLC purchased a new stake in shares of TIC Solutions in the 3rd quarter worth about $29,705,000. Finally, Bank of America Corp DE purchased a new stake in shares of TIC Solutions in the 2nd quarter worth about $13,631,000.

About TIC Solutions

Acuren Corporation provides critical asset integrity services in North America. Its activities include various nondestructive testing (NDT) solutions, 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, avoid accidents, and comply with regulatory requirements without destroying the asset or component.