TIC Solutions (NYSE:TIC) Stock Price Down 5.1% – Should You Sell?
by Danessa Lincoln · The Markets DailyShares of TIC Solutions, Inc (NYSE:TIC – Get Free Report) traded down 5.1% on Thursday . The stock traded as low as $7.59 and last traded at $7.5250. Approximately 567,265 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 2,524,970 shares. The stock had previously closed at $7.93.
Analysts Set New Price Targets
Several research firms recently commented on TIC. Zacks Research cut TIC Solutions from a “hold” rating to a “strong sell” rating in a research report on Monday, June 15th. Robert W. Baird set a $11.00 target price on shares of TIC Solutions in a research note on Thursday, May 7th. UBS Group lifted their price target on shares of TIC Solutions from $8.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. increased their price objective on shares of TIC Solutions from $7.00 to $9.00 and gave the company an “underweight” rating in a research report on Thursday, May 7th. Finally, Roth Capital restated a “buy” rating and issued a $11.50 target price on shares of TIC Solutions in a report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $11.50.
View Our Latest Research Report on TIC
TIC Solutions Stock Up 0.3%
The stock has a market cap of $1.67 billion, a PE ratio of -14.49 and a beta of 2.81. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.06 and a current ratio of 3.06. The company’s 50-day moving average price is $8.51 and its 200 day moving average price is $8.95.
Institutional Trading of TIC Solutions
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. purchased a new position in shares of TIC Solutions during the 1st quarter worth $4,429,000. JPMorgan Chase & Co. lifted its position in TIC Solutions by 1,512.2% during the second quarter. JPMorgan Chase & Co. now owns 48,946 shares of the company’s stock valued at $540,000 after purchasing an additional 45,910 shares in the last quarter. Legal & General Group Plc bought a new stake in TIC Solutions during the second quarter valued at about $666,000. Rhumbline Advisers bought a new stake in TIC Solutions during the second quarter valued at about $1,531,000. Finally, Prudential Financial Inc. purchased a new stake in TIC Solutions in the second quarter worth about $132,000.
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.