Royal Bank of Canada Decreases Stock Position in TIC Solutions, Inc $TIC

Royal Bank of Canada cut its holdings in TIC Solutions, Inc (NYSE:TIC) by 52.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,983 shares of the company’s stock after selling 71,044 shares during the quarter. Royal Bank of Canada’s holdings in TIC Solutions were worth $428,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. National Bank of Canada FI bought a new stake in shares of TIC Solutions in the 3rd quarter worth $53,000. Principal Financial Group Inc. bought a new position in shares of TIC Solutions during the first quarter valued at $69,000. Tower Research Capital LLC TRC purchased a new stake in shares of TIC Solutions during the second quarter valued at $82,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of TIC Solutions by 10.1% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,688 shares of the company’s stock valued at $83,000 after buying an additional 1,165 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in TIC Solutions in the 2nd quarter worth about $97,000.

TIC Solutions Trading Up 4.5%

TIC Solutions stock opened at $9.70 on Wednesday. TIC Solutions, Inc has a 52-week low of $6.36 and a 52-week high of $14.94. The company has a market cap of $2.12 billion, a P/E ratio of -16.72 and a beta of 2.83. 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 business has a 50-day simple moving average of $8.23 and a two-hundred day simple moving average of $8.42.

TIC Solutions (NYSE:TIC) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.04. The firm had revenue of $584.35 million for the quarter. TIC Solutions had a negative net margin of 5.64% and a negative return on equity of 2.30%. Analysts predict that TIC Solutions, Inc will post 0.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TIC. Robert W. Baird set a $10.00 target price on TIC Solutions in a research report on Friday, August 7th. Roth Capital reiterated a “buy” rating and issued a $11.50 price target on shares of TIC Solutions in a research note on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of TIC Solutions in a report on Tuesday, June 9th. Zacks Research upgraded shares of TIC Solutions from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 15th. Finally, 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. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.00.

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.