TIC Solutions (NYSE:TIC) Stock Jumps 6.8% - Still a Buy?

Key Points

• TIC Solutions shares rose 6.8% to $8.8250, though trading volume was exceptionally light at 41,684 shares—about 98% below the average daily volume.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and an average price target of $12.00, with recent upgrades from JPMorgan and UBS but a continued “sell” rating from Weiss Ratings.
• The company exceeded quarterly EPS expectations, reporting $0.14 versus the $0.10 consensus estimate on $584.35 million in revenue, but it remains unprofitable overall, with a negative net margin of 5.64%.

TIC Solutions, Inc (NYSE:TIC - Get Free Report) rose 6.8% during trading on Tuesday. The stock traded as high as $8.39 and last traded at $8.8250. 41,684 shares were traded during 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 research firms have recently weighed in on TIC. Weiss Ratings reiterated a "sell (d-)" rating on shares of TIC Solutions in a research note on Friday, September 4th. JPMorgan Chase & Co. upgraded shares of TIC Solutions from an "underweight" rating to a "neutral" rating and lifted their price objective for the company from $9.00 to $11.00 in a research note on Friday, August 21st. Robert W. Baird set a $10.00 target price on shares of TIC Solutions in a report on Friday, August 7th. UBS Group upgraded TIC Solutions from a "neutral" rating to a "buy" rating and increased their target price for the stock from $11.00 to $12.50 in a research report on Tuesday, August 11th. Finally, Zacks Research raised TIC Solutions from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 15th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $12.00.

TIC Solutions Price Performance

The business's 50-day moving average price is $9.07 and its 200 day moving average price is $8.42. The company has a market capitalization of $1.96 billion, a P/E ratio of -15.48 and a beta of 3.00. 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 posted its earnings results on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter. Analysts anticipate that TIC Solutions, Inc will post 0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On TIC Solutions

Several large investors have recently added to or reduced their stakes in the business. Permian Investment Partners LP bought a new position in TIC Solutions in the 2nd quarter worth about $172,398,660. Progeny 3 Inc. boosted its position in shares of TIC Solutions by 0.6% during the 1st quarter. Progeny 3 Inc. now owns 15,323,105 shares of the company's stock valued at $100,826,000 after acquiring an additional 92,015 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of TIC Solutions by 8.2% during 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 purchasing an additional 406,255 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in shares of TIC Solutions in the second quarter worth approximately $40,450,000. Finally, Swedbank AB increased its position in shares of TIC Solutions by 7.0% in the first quarter. Swedbank AB now owns 4,380,000 shares of the company's stock worth $28,820,000 after purchasing 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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