Permian Investment Partners LP Acquires New Shares in TIC Solutions, Inc $TIC

Key Points

• Permian Investment Partners acquired 21.31 million shares of TIC Solutions, valued at approximately $172.4 million, giving it an estimated 9.77% ownership stake and making TIC its largest portfolio position.
• Other institutional investors, including Bank of America, Man Group, Jupiter Topco, Expect Equity and Legal & General, also initiated positions in TIC during the second quarter.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $12.00. TIC recently reported quarterly EPS of $0.14, beating estimates of $0.10, on revenue of $584.35 million.

Permian Investment Partners LP bought a new stake in TIC Solutions, Inc (NYSE:TIC - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 21,310,094 shares of the company's stock, valued at approximately $172,398,660. TIC Solutions comprises 0.0% of Permian Investment Partners LP's investment portfolio, making the stock its largest position. Permian Investment Partners LP owned about 9.77% of TIC Solutions as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. Bank of America Corp DE purchased a new position in TIC Solutions during the second quarter valued at approximately $13,631,000. Man Group plc acquired a new stake in TIC Solutions during the second quarter worth about $840,000. Jupiter Topco LLC bought a new stake in TIC Solutions in the 2nd quarter valued at about $438,000. Expect Equity LLC acquired a new position in TIC Solutions in the 2nd quarter worth about $1,120,000. Finally, Legal & General Group Plc acquired a new stake in TIC Solutions during the 2nd quarter valued at $868,000.

Analysts Set New Price Targets

Several research firms recently weighed in on TIC. Weiss Ratings restated a "sell (d-)" rating on shares of TIC Solutions in a report on Tuesday, June 9th. Roth Capital reiterated a "buy" rating and issued a $11.50 price target on shares of TIC Solutions in a research report on Thursday, May 7th. Robert W. Baird set a $10.00 target price on shares of TIC Solutions in a research report on Friday, August 7th. Zacks Research raised shares of TIC Solutions from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 15th. Finally, UBS Group raised TIC Solutions from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $11.00 to $12.50 in a report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $12.00.

TIC Solutions Stock Performance

Shares of NYSE TIC traded down $0.29 during trading hours on Friday, reaching $9.52. The stock had a trading volume of 1,233,678 shares, compared to its average volume of 2,470,743. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average of $8.29 and a 200-day moving average of $8.42. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -16.41 and a beta of 2.83. TIC Solutions, Inc has a fifty-two week low of $6.36 and a fifty-two week high of $14.94.

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 the consensus estimate of $0.10 by $0.04. The firm had revenue of $584.35 million for the quarter. TIC Solutions had a negative return on equity of 2.30% and a negative net margin of 5.64%. Equities research analysts predict that TIC Solutions, Inc will post 0.29 earnings per share for the current year.

TIC Solutions 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.