TIC Solutions (NYSE:TIC) Stock Price Down 7.8% – Should You Sell?

TIC Solutions, Inc (NYSE:TIC)’s share price dropped 7.8% during mid-day trading on Wednesday . The stock traded as low as $9.18 and last traded at $8.8620. 873,550 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 2,383,464 shares. The stock had previously closed at $9.61.

Wall Street Analyst Weigh In

Several research analysts recently commented on TIC shares. Robert W. Baird set a $10.00 target price on shares of TIC Solutions in a research note on Friday, August 7th. UBS Group raised shares of TIC Solutions from a “neutral” rating to a “buy” rating and raised their price target for the stock from $11.00 to $12.50 in a report on Tuesday, August 11th. Zacks Research raised shares of TIC Solutions from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. upgraded shares of TIC Solutions from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $9.00 to $11.00 in a report on Friday, August 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of TIC Solutions in a report on Friday, September 4th. Three equities 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. According to data from MarketBeat.com, TIC Solutions presently has a consensus rating of “Hold” and an average price target of $12.00.

TIC Solutions Trading Up 1.8%

The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.91 and a current ratio of 2.91. The firm has a market capitalization of $1.97 billion, a PE ratio of -15.53 and a beta of 2.96. The stock’s 50-day simple moving average is $8.67 and its 200-day simple moving average is $8.40.

TIC Solutions (NYSE:TIC) last announced its earnings results on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. TIC Solutions had a negative net margin of 5.64% and a negative return on equity of 2.30%. The firm had revenue of $584.35 million for the quarter. As a group, sell-side analysts expect that TIC Solutions, Inc will post 0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. IFP Advisors Inc lifted its stake in shares of TIC Solutions by 137.5% in the 2nd quarter. IFP Advisors Inc now owns 3,441 shares of the company’s stock valued at $28,000 after purchasing an additional 1,992 shares during the period. Quantbot Technologies LP purchased a new stake in TIC Solutions in the second quarter worth $29,000. Principal Financial Group Inc. purchased a new stake in TIC Solutions in the first quarter worth $69,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in TIC Solutions by 10.1% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,688 shares of the company’s stock worth $83,000 after purchasing an additional 1,165 shares in the last quarter. Finally, Pallas Capital Advisors LLC bought a new position in TIC Solutions in the second quarter worth $112,000.

TIC Solutions Company Profile

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.