UBS Group Cuts TIC Solutions (NYSE:TIC) Price Target to $8.00

TIC Solutions (NYSE:TIC) had its price target reduced by UBS Group from $11.50 to $8.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

TIC has been the subject of several other reports. Roth Mkm initiated coverage on shares of TIC Solutions in a report on Tuesday. They issued a “buy” rating and a $10.00 target price for the company. Zacks Research downgraded shares of TIC Solutions from a “hold” rating to a “strong sell” rating in a report on Thursday, March 12th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $8.00 price target (down from $14.00) on shares of TIC Solutions in a research report on Friday, March 13th. Finally, Weiss Ratings started coverage on shares of TIC Solutions in a research note on Thursday, March 12th. They issued a “sell (d-)” rating for the company. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $11.20.

TIC Solutions Stock Performance

NYSE:TIC opened at $7.68 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 3.20 and a current ratio of 3.20. The stock has a 50-day simple moving average of $9.72 and a two-hundred day simple moving average of $10.79. The firm has a market capitalization of $1.70 billion and a PE ratio of -14.22. TIC Solutions has a 52-week low of $6.73 and a 52-week high of $14.94.

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

Institutional Trading of TIC Solutions

Hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. bought a new position in shares of TIC Solutions during the 1st quarter valued at about $4,429,000. ProShare Advisors LLC bought a new stake in shares of TIC Solutions in the second quarter worth about $234,000. Geode Capital Management LLC bought a new stake in shares of TIC Solutions in the second quarter worth about $25,003,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of TIC Solutions in the second quarter worth about $249,000. Finally, Intech Investment Management LLC purchased a new stake in shares of TIC Solutions in the second quarter worth about $521,000.

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.