JPMorgan Chase & Co. Downgrades TIC Solutions (NYSE:TIC) to Underweight

TIC Solutions (NYSE:TIC) was downgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued on Thursday. They presently have a $7.00 target price on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 4.96% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Roth Mkm started coverage on shares of TIC Solutions in a research report on Tuesday, March 17th. They issued a “buy” rating and a $10.00 target price for the company. Weiss Ratings began coverage on shares of TIC Solutions in a research report on Thursday, March 12th. They set a “sell (d-)” rating on the stock. UBS Group decreased their price objective on TIC Solutions from $11.50 to $8.00 and set a “neutral” rating for the company in a report on Tuesday, March 17th. Finally, Zacks Research downgraded TIC Solutions from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 12th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $11.00.

TIC Solutions Stock Up 0.8%

NYSE:TIC opened at $7.37 on Thursday. The stock has a 50-day simple moving average of $9.41 and a 200 day simple moving average of $10.68. TIC Solutions has a 52-week low of $6.73 and a 52-week high of $14.94. The company has a market cap of $1.63 billion and a PE ratio of -13.64. The company has a debt-to-equity ratio of 0.73, a quick ratio of 3.20 and a current ratio of 3.20.

TIC Solutions (NYSE:TIC) last released its earnings results on Thursday, March 12th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.29). The firm had revenue of $508.27 million during the quarter, compared to the consensus estimate of $531.05 million. TIC Solutions had a negative net margin of 5.69% and a negative return on equity of 4.37%.

Institutional Investors Weigh In On TIC Solutions

A number of large investors have recently added to or reduced their stakes in TIC. Apis Capital Advisors LLC acquired a new position in shares of TIC Solutions in the third quarter valued at $2,476,000. Geode Capital Management LLC bought a new stake in shares of TIC Solutions during the 2nd quarter worth about $25,003,000. Nkcfo LLC acquired a new position in TIC Solutions in the 3rd quarter valued at about $1,664,000. Ameritas Investment Partners Inc. bought a new position in TIC Solutions in the 2nd quarter valued at about $117,000. Finally, Huntleigh Advisors Inc. bought a new position in TIC Solutions in the 3rd quarter valued at about $1,582,000.

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.