TIC Solutions (NYSE:TIC) Reaches New 12-Month Low – Here’s What Happened

TIC Solutions, Inc (NYSE:TIC) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $6.69 and last traded at $6.6780, with a volume of 1646949 shares changing hands. The stock had previously closed at $7.11.

Analyst Ratings Changes

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

TIC Solutions Stock Down 7.2%

The business has a 50-day moving average of $9.22 and a 200-day moving average of $10.62. 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 market capitalization of $1.46 billion and a price-to-earnings ratio of -12.21.

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

Hedge Funds Weigh In On TIC Solutions

Hedge funds have recently made changes to their positions in the stock. Granite FO LLC purchased a new stake in TIC Solutions in the third quarter valued at approximately $27,000. Nisa Investment Advisors LLC lifted its stake in TIC Solutions by 123.5% during the third quarter. Nisa Investment Advisors LLC now owns 2,277 shares of the company’s stock worth $30,000 after purchasing an additional 1,258 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of TIC Solutions during the third quarter worth $33,000. Blue Trust Inc. acquired a new stake in shares of TIC Solutions in the third quarter valued at $38,000. Finally, Clearstead Advisors LLC acquired a new stake in shares of TIC Solutions in the third quarter valued at $43,000.

About TIC Solutions

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.