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

TIC Solutions (NYSE:TIC) had its price target lowered by equities research analysts at UBS Group from $11.50 to $8.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective points to a potential upside of 1.78% from the company’s current price.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $8.00 target price (down from $14.00) on shares of TIC Solutions in a research note on Friday. Roth Mkm initiated coverage on shares of TIC Solutions in a research report on Tuesday. They set a “buy” rating and a $10.00 price target on the stock. Weiss Ratings started coverage on TIC Solutions in a report on Thursday. They issued a “sell (d-)” rating on the stock. Finally, Zacks Research cut TIC Solutions from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 12th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $8.67.

TIC Solutions Price Performance

Shares of TIC stock traded up $0.26 during trading hours on Tuesday, reaching $7.86. 1,390,619 shares of the company’s stock were exchanged, compared to its average volume of 2,583,946. The firm has a market capitalization of $1.74 billion and a price-to-earnings ratio of -14.56. TIC Solutions has a 1 year low of $6.73 and a 1 year high of $14.94. 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 posted its earnings results on Thursday, March 12th. The company reported ($0.17) earnings per share (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 for the quarter, compared to analyst estimates of $531.05 million.

About TIC Solutions

TIC Solutions, Inc provides critical asset integrity services in North America. The company offers testing, inspection, certification, and compliance (TICC) services, including various nondestructive testing (NDT) techniques, such as radiography, ultrasonic testing, magnetic particle inspection, penetrant testing, and visual inspection. Its NDT activities include inspection and evaluation of industrial equipment through various technology-enabled methods to ensure asset integrity, prevent costly outages, failures, and accidents, and meet regulatory requirements without damaging the asset or component.