TIC Solutions (NYSE:TIC) Shares Down 3.5% – Here’s What Happened

Shares of TIC Solutions, Inc (NYSE:TIC) fell 3.5% on Tuesday . The stock traded as low as $6.41 and last traded at $6.4440. 295,761 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 2,726,188 shares. The stock had previously closed at $6.68.

Wall Street Analyst Weigh In

TIC has been the subject of a number of research analyst reports. Roth Mkm began coverage on shares of TIC Solutions in a research report on Tuesday, March 17th. They issued a “buy” rating and a $10.00 price objective on the stock. 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 research note on Thursday, March 26th. Zacks Research downgraded TIC Solutions from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 12th. UBS Group dropped their price target on TIC Solutions from $11.50 to $8.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 17th. Finally, Weiss Ratings began coverage on TIC Solutions in a research note on Thursday, March 12th. They issued a “sell (d-)” rating on the stock. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $11.00.

TIC Solutions Stock Performance

The business has a 50 day moving average of $9.13 and a 200-day moving average of $10.58. 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 company has a market capitalization of $1.44 billion and a P/E ratio of -12.02.

TIC Solutions (NYSE:TIC) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.17) earnings per share 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 the consensus estimate of $531.05 million. TIC Solutions had a negative net margin of 5.69% and a negative return on equity of 4.37%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TIC. Granite FO LLC bought a new position in shares of TIC Solutions in the third quarter worth $27,000. Nisa Investment Advisors LLC boosted 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 valued at $30,000 after buying an additional 1,258 shares during the period. FNY Investment Advisers LLC purchased a new position in TIC Solutions during the third quarter worth about $33,000. Blue Trust Inc. purchased a new position in TIC Solutions during the third quarter worth about $38,000. Finally, Clearstead Advisors LLC bought a new position in TIC Solutions in the 3rd quarter worth about $43,000.

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.