TIC Solutions (NYSE:TIC) Shares Down 7.8% - Time to Sell?

Key Points

• TIC Solutions shares fell 7.8% to about $8.86 in mid-day trading, with volume down 63% from its average.
• Analyst sentiment is mixed but centers on a “Hold” consensus; the average price target is $12.00, while UBS upgraded the stock to Buy and Weiss Ratings maintained a Sell rating.
• The company beat quarterly EPS estimates, reporting $0.14 versus $0.10 expected on $584.35 million in revenue, but it remains unprofitable with a negative net margin of 5.64% and negative return on equity.

TIC Solutions, Inc (NYSE:TIC - Get Free Report)'s stock price was down 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 changed hands during trading, a decline of 63% from the average session volume of 2,383,464 shares. The stock had previously closed at $9.61.

Analyst Ratings Changes

Several research firms recently weighed in on TIC. UBS Group raised TIC Solutions from a "neutral" rating to a "buy" rating and raised their price objective for the company from $11.00 to $12.50 in a report on Tuesday, August 11th. Robert W. Baird set a $10.00 target price on TIC Solutions in a report on Friday, August 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of TIC Solutions in a research report on Friday, September 4th. Zacks Research raised TIC Solutions from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 15th. Finally, JPMorgan Chase & Co. upgraded TIC Solutions from an "underweight" rating to a "neutral" rating and boosted their price target for the stock from $9.00 to $11.00 in a report on Friday, August 21st. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, TIC Solutions has a consensus rating of "Hold" and an average target price of $12.00.

TIC Solutions Price Performance

The company's 50 day moving average price is $8.62 and its 200-day moving average price is $8.41. The stock has a market cap of $1.94 billion, a P/E ratio of -15.32 and a beta of 2.96. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 0.76.

TIC Solutions (NYSE:TIC - Get Free Report) last issued its quarterly 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. The company had revenue of $584.35 million for the quarter. TIC Solutions had a negative net margin of 5.64% and a negative return on equity of 2.30%. As a group, sell-side analysts expect that TIC Solutions, Inc will post 0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc raised its position in shares of TIC Solutions by 137.5% during the second quarter. IFP Advisors Inc now owns 3,441 shares of the company's stock worth $28,000 after acquiring an additional 1,992 shares during the last quarter. Quantbot Technologies LP bought a new stake in TIC Solutions in the second quarter valued at approximately $29,000. Principal Financial Group Inc. bought a new stake in TIC Solutions in the first quarter valued at approximately $69,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in TIC Solutions by 10.1% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,688 shares of the company's stock valued at $83,000 after purchasing an additional 1,165 shares during the period. Finally, Pallas Capital Advisors LLC acquired a new stake in TIC Solutions during the 2nd quarter valued at approximately $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.

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