TIC Solutions (NYSE:TIC) Reaches New 52-Week Low – What’s Next?
by Sarita Garza · The Markets DailyShares of TIC Solutions, Inc (NYSE:TIC – Get Free Report) hit a new 52-week low during trading on Friday . The company traded as low as $6.69 and last traded at $6.6780, with a volume of 1646949 shares traded. The stock had previously closed at $7.11.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on TIC shares. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $7.00 price target (down from $8.00) on shares of TIC Solutions in a research note on Thursday. Weiss Ratings initiated coverage on TIC Solutions in a research report on Thursday, March 12th. They issued a “sell (d-)” rating on the stock. Roth Mkm began coverage on TIC Solutions in a report on Tuesday, March 17th. They set a “buy” rating and a $10.00 target price on the stock. UBS Group decreased their price target on TIC Solutions from $11.50 to $8.00 and set a “neutral” rating for the company in a research note on Tuesday, March 17th. Finally, Zacks Research cut TIC Solutions from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 12th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $11.00.
View Our Latest Stock Analysis on TIC Solutions
TIC Solutions Price Performance
The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $1.47 billion and a price-to-earnings ratio of -12.31. The company’s 50 day moving average is $9.32 and its 200-day moving average is $10.66.
TIC Solutions (NYSE:TIC – Get Free Report) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $508.27 million for the quarter, compared to analyst estimates of $531.05 million.
Institutional Trading of TIC Solutions
Several hedge funds and other institutional investors have recently modified their holdings of TIC. Nisa Investment Advisors LLC raised its holdings in TIC Solutions by 123.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,277 shares of the company’s stock valued at $30,000 after acquiring an additional 1,258 shares during the period. Granite FO LLC bought a new stake in TIC Solutions in the 3rd quarter valued at $27,000. FNY Investment Advisers LLC acquired a new position in TIC Solutions in the 3rd quarter valued at $33,000. Voya Investment Management LLC increased its position in TIC Solutions by 9.0% during the 3rd quarter. Voya Investment Management LLC now owns 31,384 shares of the company’s stock worth $418,000 after buying an additional 2,598 shares during the period. Finally, Blue Trust Inc. acquired a new stake in shares of TIC Solutions during the third quarter worth $38,000.
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.