Zacks Research Upgrades TIC Solutions (NYSE:TIC) to Hold

TIC Solutions (NYSE:TIC) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

TIC has been the subject of several other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TIC Solutions in a research report on Tuesday, June 9th. Roth Capital restated a “buy” rating and issued a $11.50 price target on shares of TIC Solutions in a research note on Thursday, May 7th. JPMorgan Chase & Co. lifted their price target on TIC Solutions from $7.00 to $9.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. Robert W. Baird set a $11.00 price objective on TIC Solutions in a report on Thursday, May 7th. Finally, UBS Group boosted their target price on TIC Solutions from $8.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.50.

TIC Solutions Stock Down 3.4%

Shares of NYSE TIC opened at $6.92 on Wednesday. The stock has a market cap of $1.53 billion, a P/E ratio of -13.30 and a beta of 2.81. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 0.74. TIC Solutions has a 12-month low of $6.36 and a 12-month high of $14.94. The business’s fifty day simple moving average is $8.30 and its 200-day simple moving average is $8.84.

Hedge Funds Weigh In On TIC Solutions

Several large investors have recently bought and sold shares of the stock. Progeny 3 Inc. grew its holdings in shares of TIC Solutions by 0.6% during the first quarter. Progeny 3 Inc. now owns 15,323,105 shares of the company’s stock worth $100,826,000 after purchasing an additional 92,015 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of TIC Solutions by 8.2% in the 1st quarter. Bank of New York Mellon Corp now owns 5,385,942 shares of the company’s stock valued at $35,440,000 after purchasing an additional 406,255 shares during the last quarter. Swedbank AB lifted its holdings in shares of TIC Solutions by 7.0% in the 1st quarter. Swedbank AB now owns 4,380,000 shares of the company’s stock valued at $28,820,000 after purchasing an additional 286,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of TIC Solutions by 9.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,573,446 shares of the company’s stock valued at $23,514,000 after purchasing an additional 308,840 shares during the period. Finally, Millennium Management LLC purchased a new position in TIC Solutions during the 3rd quarter worth approximately $29,705,000.

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.