Shares of TIC Solutions, Inc (NYSE:TIC – Get Free Report) were up 6.8% during trading on Tuesday. The company traded as high as $8.39 and last traded at $8.8250. Approximately 41,684 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 2,323,184 shares. The stock had previously closed at $8.26.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of TIC Solutions in a research report on Friday, September 4th. UBS Group upgraded shares of TIC Solutions from a “neutral” rating to a “buy” rating and upped their target price for the stock from $11.00 to $12.50 in a research report on Tuesday, August 11th. Zacks Research raised TIC Solutions from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. raised TIC Solutions from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $9.00 to $11.00 in a research note on Friday, August 21st. Finally, Robert W. Baird set a $10.00 price objective on TIC Solutions in a report on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.00.
Read Our Latest Stock Report on TIC Solutions
TIC Solutions Trading Up 8.5%
TIC Solutions (NYSE:TIC – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. TIC Solutions had a negative return on equity of 2.30% and a negative net margin of 5.64%.The firm had revenue of $584.35 million for the quarter. Equities analysts expect that TIC Solutions, Inc will post 0.29 earnings per share for the current year.
Institutional Trading of TIC Solutions
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Permian Investment Partners LP purchased a new stake in shares of TIC Solutions during the second quarter valued at approximately $172,398,660. Progeny 3 Inc. increased its stake in shares of TIC Solutions by 0.6% in the first quarter. Progeny 3 Inc. now owns 15,323,105 shares of the company’s stock worth $100,826,000 after buying an additional 92,015 shares during the period. Bank of New York Mellon Corp increased its stake in shares of TIC Solutions by 8.2% in the first quarter. Bank of New York Mellon Corp now owns 5,385,942 shares of the company’s stock worth $35,440,000 after buying an additional 406,255 shares during the period. Jefferies Financial Group Inc. bought a new stake in TIC Solutions during the 2nd quarter valued at $40,450,000. Finally, Swedbank AB raised its holdings in TIC Solutions by 7.0% during the 1st quarter. Swedbank AB now owns 4,380,000 shares of the company’s stock valued at $28,820,000 after buying an additional 286,000 shares during the last quarter.
About TIC Solutions
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.
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