TIC Solutions (NYSE:TIC) Shares Down 3.5% – Here’s What Happened

TIC Solutions, Inc (NYSE:TIC) traded down 3.5% on Tuesday . The company traded as low as $6.41 and last traded at $6.4440. 295,761 shares were traded during trading, a decline of 89% from the average session volume of 2,726,188 shares. The stock had previously closed at $6.68.

Analyst Ratings Changes

Several equities analysts have issued reports on TIC shares. UBS Group cut their target price on TIC Solutions from $11.50 to $8.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 17th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $7.00 price target (down from $8.00) on shares of TIC Solutions in a research report on Thursday, March 26th. Zacks Research cut shares of TIC Solutions from a “hold” rating to a “strong sell” rating in a report on Thursday, March 12th. Weiss Ratings began coverage on shares of TIC Solutions in a research note on Thursday, March 12th. They set a “sell (d-)” rating for the company. Finally, Roth Mkm assumed coverage on shares of TIC Solutions in a research note on Tuesday, March 17th. They set a “buy” rating and a $10.00 price objective for the company. 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 company. Based on data from MarketBeat, TIC Solutions currently has a consensus rating of “Reduce” and a consensus target price of $11.00.

TIC Solutions Trading Up 3.9%

The company has a 50 day moving average of $8.95 and a two-hundred day moving average of $10.52. The stock has a market capitalization of $1.51 billion, a PE ratio of -12.66 and a beta of 2.46. 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 quarterly earnings results on Thursday, March 12th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.29). TIC Solutions had a negative net margin of 5.69% and a negative return on equity of 4.37%. The business had revenue of $508.27 million during the quarter, compared to analysts’ expectations of $531.05 million.

Institutional Trading of TIC Solutions

A number of institutional investors have recently bought and sold shares of the stock. Apis Capital Advisors LLC acquired a new position in TIC Solutions during the 3rd quarter valued at approximately $2,476,000. Nkcfo LLC acquired a new stake in shares of TIC Solutions during the third quarter worth $1,664,000. Huntleigh Advisors Inc. purchased a new stake in shares of TIC Solutions during the third quarter valued at $1,582,000. CenterBook Partners LP purchased a new stake in shares of TIC Solutions during the third quarter valued at $1,796,000. Finally, Schwartz Investment Counsel Inc. acquired a new position in shares of TIC Solutions in the 3rd quarter valued at $3,513,000.

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.