Corient Private Wealth LP Cuts Holdings in TIC Solutions, Inc $TIC

Key Points

• Corient Private Wealth LP cut its TIC Solutions position by 90.9% in the second quarter, selling 167,170 shares and retaining 16,831 shares valued at approximately $136,000.
• Several major investors initiated positions, led by Permian Investment Partners with an investment of roughly $172.4 million. Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $12.00.
• TIC shares opened at $8.85 and were reported up 7.1%; the company recently beat quarterly earnings expectations, posting $0.14 EPS versus the $0.10 consensus, on revenue of $584.35 million.

Corient Private Wealth LP decreased its position in TIC Solutions, Inc (NYSE:TIC - Free Report) by 90.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 16,831 shares of the company's stock after selling 167,170 shares during the period. Corient Private Wealth LP's holdings in TIC Solutions were worth $136,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Permian Investment Partners LP acquired a new position in TIC Solutions during the second quarter valued at approximately $172,398,660. Jefferies Financial Group Inc. bought a new stake in shares of TIC Solutions during the 2nd quarter worth approximately $40,450,000. Bank of America Corp DE acquired a new stake in shares of TIC Solutions in the 2nd quarter valued at approximately $13,631,000. NewEdge Wealth LLC bought a new position in shares of TIC Solutions in the second quarter valued at $8,030,000. Finally, Bank of New York Mellon Corp acquired a new position in TIC Solutions during the second quarter worth $4,468,000.

Analyst Ratings Changes

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

TIC Solutions Stock Up 7.1%

Shares of NYSE:TIC opened at $8.85 on Wednesday. TIC Solutions, Inc has a 52-week low of $6.36 and a 52-week high of $14.65. The company has a market capitalization of $1.93 billion, a PE ratio of -15.25 and a beta of 3.00. 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 company has a fifty day moving average of $9.10 and a 200-day moving average of $8.42.

TIC Solutions (NYSE:TIC - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.14 EPS 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 business had revenue of $584.35 million during the quarter. On average, equities analysts predict that TIC Solutions, Inc will post 0.29 EPS for the current fiscal year.

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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