TIC Solutions (NYSE:TIC) Stock Price Up 10.6% – Time to Buy?

TIC Solutions, Inc (NYSE:TIC) shot up 10.6% during trading on Monday. The stock traded as high as $11.49 and last traded at $11.4680. Approximately 258,683 shares traded hands during trading, a decline of 88% from the average session volume of 2,238,232 shares. The stock had previously closed at $10.37.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Zacks Research upgraded shares of TIC Solutions from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. upgraded shares of TIC Solutions from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $9.00 to $11.00 in a report on Friday, August 21st. Robert W. Baird set a $10.00 price target on shares of TIC Solutions in a research note on Friday, August 7th. Wall Street Zen raised shares of TIC Solutions from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, UBS Group reiterated a “buy” rating on shares of TIC Solutions in a report on Monday, October 19th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $12.00.

TIC Solutions Price Performance

The stock’s 50 day moving average price is $9.26 and its 200-day moving average price is $8.76. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $2.42 billion, a PE ratio of -20.21 and a beta of 2.75.

TIC Solutions (NYSE:TIC) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.15 by $0.03. TIC Solutions had a negative net margin of 5.10% and a negative return on equity of 0.09%. The company had revenue of $639.62 million for the quarter. As a group, equities analysts forecast that TIC Solutions, Inc will post 0.29 EPS for the current year.

Hedge Funds Weigh In On TIC Solutions

Institutional investors have recently modified their holdings of the stock. Ascent Group LLC raised its stake in shares of TIC Solutions by 10.7% during the third quarter. Ascent Group LLC now owns 11,223 shares of the company’s stock valued at $93,000 after acquiring an additional 1,088 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in TIC Solutions by 10.1% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,688 shares of the company’s stock worth $83,000 after purchasing an additional 1,165 shares during the period. IFP Advisors Inc increased its holdings in TIC Solutions by 137.5% during the 2nd quarter. IFP Advisors Inc now owns 3,441 shares of the company’s stock worth $28,000 after purchasing an additional 1,992 shares during the period. NewEdge Advisors LLC increased its holdings in TIC Solutions by 9.2% during the 2nd quarter. NewEdge Advisors LLC now owns 28,210 shares of the company’s stock worth $228,000 after purchasing an additional 2,365 shares during the period. Finally, HB Wealth Management LLC raised its position in TIC Solutions by 14.8% during the 2nd quarter. HB Wealth Management LLC now owns 21,260 shares of the company’s stock valued at $172,000 after purchasing an additional 2,739 shares in the last quarter.

TIC Solutions Company Profile

Acuren Corporation provides critical asset integrity services in North America. Its activities include various nondestructive testing (NDT) solutions, 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, avoid accidents, and comply with regulatory requirements without destroying the asset or component.