TIC Solutions (NYSE:TIC) Shares Down 5.1% - Here's What Happened

Key Points

• TIC Solutions shares fell 5.1% on Thursday, trading as low as $7.59 before ending near $7.53, with volume well below its recent average.
• Analyst sentiment remains mixed: several firms raised price targets, but ratings range from Buy to Sell, and MarketBeat’s consensus view is “Reduce” with a $11.50 target.
• The company’s recent stock weakness comes despite generally solid institutional ownership activity and a business focused on non-destructive testing, inspection, engineering, and consulting services for industrial sectors.

TIC Solutions, Inc (NYSE:TIC - Get Free Report) traded down 5.1% on Thursday . The stock traded as low as $7.59 and last traded at $7.5250. Approximately 567,265 shares traded hands during trading, a decline of 78% from the average daily volume of 2,524,970 shares. The stock had previously closed at $7.93.

Analysts Set New Price Targets

Several equities analysts have issued reports on TIC shares. JPMorgan Chase & Co. boosted their price objective on shares of TIC Solutions from $7.00 to $9.00 and gave the company an "underweight" rating in a research note on Thursday, May 7th. UBS Group raised their target price on shares of TIC Solutions from $8.00 to $11.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of TIC Solutions in a report on Tuesday, June 9th. Robert W. Baird set a $11.00 price target on shares of TIC Solutions in a research note on Thursday, May 7th. Finally, Roth Capital reissued a "buy" rating and set a $11.50 price target on shares of TIC Solutions in a report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, TIC Solutions has a consensus rating of "Reduce" and a consensus price target of $11.50.

TIC Solutions Stock Performance

The stock has a 50 day moving average of $8.57 and a two-hundred day moving average of $8.98. The stock has a market capitalization of $1.65 billion, a PE ratio of -14.37 and a beta of 2.81. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.06 and a quick ratio of 3.06.

Institutional Investors Weigh In On TIC Solutions

Several institutional investors have recently made changes to their positions in TIC. Progeny 3 Inc. increased its holdings in shares of TIC Solutions by 0.6% in the 1st quarter. Progeny 3 Inc. now owns 15,323,105 shares of the company's stock valued at $100,826,000 after purchasing an additional 92,015 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in 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 buying an additional 406,255 shares in the last quarter. Swedbank AB grew its position in TIC Solutions by 7.0% during the first quarter. Swedbank AB now owns 4,380,000 shares of the company's stock worth $28,820,000 after buying an additional 286,000 shares during the period. Dimensional Fund Advisors LP increased its holdings in TIC Solutions by 9.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,573,446 shares of the company's stock valued at $23,514,000 after buying an additional 308,840 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in TIC Solutions in the third quarter valued at about $29,705,000.

About TIC Solutions

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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