Bank of New York Mellon Corp bought a new position in TIC Solutions, Inc (NYSE:TIC - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 552,265 shares of the company's stock, valued at approximately $4,468,000. Bank of New York Mellon Corp owned 0.25% of TIC Solutions as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Handelsbanken Fonder AB lifted its holdings in TIC Solutions by 10.2% in the second quarter. Handelsbanken Fonder AB now owns 45,200 shares of the company's stock worth $366,000 after buying an additional 4,200 shares during the period. NewEdge Advisors LLC purchased a new stake in TIC Solutions during the 1st quarter valued at $170,000. Carlson Capital L.P. purchased a new position in shares of TIC Solutions during the 1st quarter worth $572,000. Bank of America Corp DE boosted its position in shares of TIC Solutions by 219.2% in the first quarter. Bank of America Corp DE now owns 667,523 shares of the company's stock worth $4,392,000 after purchasing an additional 458,431 shares during the period. Finally, California State Teachers Retirement System increased its stake in TIC Solutions by 35.7% in the 1st quarter. California State Teachers Retirement System now owns 189,139 shares of the company's stock worth $1,245,000 after buying an additional 49,794 shares in the last quarter.
Wall Street Analyst Weigh In
TIC has been the topic of several research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of TIC Solutions in a report on Tuesday, June 9th. Zacks Research upgraded TIC Solutions from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 15th. Robert W. Baird set a $10.00 price objective on shares of TIC Solutions in a research note on Friday, August 7th. JPMorgan Chase & Co. upgraded TIC Solutions from an "underweight" rating to a "neutral" rating and lifted their target price for the company from $9.00 to $11.00 in a research note on Friday, August 21st. Finally, UBS Group upgraded TIC Solutions from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $11.00 to $12.50 in a research note on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, TIC Solutions has an average rating of "Hold" and an average target price of $12.00.
Check Out Our Latest Analysis on TIC Solutions
TIC Solutions Stock Performance
NYSE TIC opened at $9.38 on Friday. TIC Solutions, Inc has a twelve month low of $6.36 and a twelve month high of $14.94. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of -16.17 and a beta of 2.96. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 0.76. The stock has a 50-day moving average of $8.43 and a 200 day moving average of $8.42.
TIC Solutions (NYSE:TIC - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.14 EPS for the quarter, topping 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 business had revenue of $584.35 million during the quarter. Sell-side analysts anticipate that TIC Solutions, Inc will post 0.29 EPS for the current fiscal year.
TIC Solutions Company Profile
(
Free Report)
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.
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