TIC Solutions’ (TIC) “Underweight” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their underweight rating on shares of TIC Solutions (NYSE:TIC) in a research note released on Thursday, Marketbeat reports. JPMorgan Chase & Co. currently has a $7.00 price target on the stock, down from their previous price target of $8.00.

TIC has been the topic of several other reports. Weiss Ratings initiated coverage on shares of TIC Solutions in a research report on Thursday, March 12th. They issued a “sell (d-)” rating on the stock. Zacks Research downgraded 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 TIC Solutions from $11.50 to $8.00 and set a “neutral” rating on the stock in a report on Tuesday, March 17th. Finally, Roth Mkm began coverage on TIC Solutions in a research report on Tuesday, March 17th. They set a “buy” rating and a $10.00 price objective for the company. Two 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’s stock. Based on data from MarketBeat, TIC Solutions has a consensus rating of “Reduce” and an average price target of $11.00.

TIC Solutions Price Performance

Shares of TIC opened at $6.60 on Thursday. The stock has a 50 day simple moving average of $9.22 and a 200 day simple moving average of $10.62. TIC Solutions has a 52-week low of $6.55 and a 52-week 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. The firm has a market capitalization of $1.46 billion and a PE ratio of -12.21.

TIC Solutions (NYSE:TIC) last announced its earnings results on Thursday, March 12th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.29). The company had revenue of $508.27 million for the quarter, compared to analyst estimates of $531.05 million. TIC Solutions had a negative return on equity of 4.37% and a negative net margin of 5.69%.

Hedge Funds Weigh In On TIC Solutions

A number of large investors have recently modified their holdings of TIC. Goldman Sachs Group Inc. bought a new position in shares of TIC Solutions in the 1st quarter valued at about $4,429,000. Geode Capital Management LLC bought a new stake in TIC Solutions during the second quarter worth about $25,003,000. Police & Firemen s Retirement System of New Jersey acquired a new position in TIC Solutions during the second quarter valued at approximately $249,000. Intech Investment Management LLC acquired a new position in TIC Solutions during the second quarter valued at approximately $521,000. Finally, Swiss National Bank bought a new position in TIC Solutions in the second quarter valued at approximately $1,153,000.

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.