Moore Capital Management LP Sells 250,000 Shares of TIC Solutions, Inc $TIC

Key Points

• Moore Capital Management cut its TIC Solutions position by 50%, selling 250,000 shares during the second quarter and retaining 250,000 shares worth approximately $2.02 million.
• Analyst sentiment is mixed, with three Buy, three Hold and one Sell rating; the consensus rating is Hold with a $12.00 price target, above the stock’s reported $9.54 opening price.
• TIC Solutions exceeded quarterly earnings expectations, reporting $0.14 earnings per share versus the $0.10 consensus estimate on $584.35 million in revenue, though it posted a negative net margin of 5.64%.

Moore Capital Management LP lowered its position in shares of TIC Solutions, Inc (NYSE:TIC - Free Report) by 50.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 250,000 shares of the company's stock after selling 250,000 shares during the quarter. Moore Capital Management LP owned 0.11% of TIC Solutions worth $2,022,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of TIC. Quantbot Technologies LP purchased a new position in TIC Solutions in the second quarter worth $29,000. National Bank of Canada FI bought a new stake in shares of TIC Solutions during the 3rd quarter worth $53,000. Principal Financial Group Inc. bought a new stake in shares of TIC Solutions during the 1st quarter worth $69,000. Tower Research Capital LLC TRC purchased a new position in shares of TIC Solutions in the 2nd quarter worth about $82,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of TIC Solutions by 10.1% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,688 shares of the company's stock worth $83,000 after buying an additional 1,165 shares during the last quarter.

Wall Street Analysts Forecast Growth

TIC has been the topic of several research reports. Robert W. Baird set a $10.00 price objective on shares of TIC Solutions in a research report on Friday, August 7th. Roth Capital reissued a "buy" rating and set a $11.50 target price on shares of TIC Solutions in a research report on Thursday, May 7th. Zacks Research raised shares of TIC Solutions from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of TIC Solutions in a research note on Tuesday, June 9th. Finally, UBS Group raised TIC Solutions from a "neutral" rating to a "buy" rating and increased their price objective for the company from $11.00 to $12.50 in a report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $12.00.

TIC Solutions Price Performance

NYSE:TIC opened at $9.54 on Tuesday. TIC Solutions, Inc has a 52-week low of $6.36 and a 52-week high of $14.94. 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 firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of -16.45 and a beta of 2.83. The stock has a fifty day moving average of $8.34 and a 200 day moving average of $8.42.

TIC Solutions (NYSE:TIC - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.04. The business 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%. On average, research analysts expect that TIC Solutions, Inc will post 0.29 EPS for the current fiscal year.

TIC Solutions Company Profile

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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