Squarepoint Ops LLC Acquires 253,697 Shares of TIC Solutions, Inc $TIC

Key Points

• Squarepoint Ops LLC increased its TIC Solutions position by 522.5% in the second quarter, adding 253,697 shares for a total of 302,249 shares valued at approximately $2.45 million.
• TIC Solutions reported quarterly EPS of $0.14, beating analyst estimates of $0.10, on revenue of $584.35 million. However, the company posted a negative net margin of 5.64% and negative return on equity of 2.30%.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $12.00, compared with the stock’s reported price of $9.45.

Squarepoint Ops LLC lifted its holdings in shares of TIC Solutions, Inc (NYSE:TIC - Free Report) by 522.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 302,249 shares of the company's stock after buying an additional 253,697 shares during the period. Squarepoint Ops LLC owned about 0.14% of TIC Solutions worth $2,445,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TIC. Deutsche Bank AG bought a new position in TIC Solutions in the second quarter valued at approximately $1,510,000. Quantinno Capital Management LP grew its stake in shares of TIC Solutions by 605.5% in the first quarter. Quantinno Capital Management LP now owns 177,066 shares of the company's stock valued at $1,165,000 after buying an additional 151,968 shares in the last quarter. Swedbank AB increased its holdings 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 last quarter. Dimensional Fund Advisors LP increased its holdings in TIC Solutions by 9.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,573,446 shares of the company's stock worth $23,514,000 after buying an additional 308,840 shares during the last quarter. Finally, Permian Investment Partners LP bought a new stake in TIC Solutions during the second quarter worth $172,398,660.

TIC Solutions Stock Performance

NYSE:TIC opened at $9.45 on Tuesday. The stock has a 50 day simple moving average of $8.59 and a 200 day simple moving average of $8.41. The stock has a market cap of $2.06 billion, a P/E ratio of -16.28 and a beta of 2.96. TIC Solutions, Inc has a 1-year low of $6.36 and a 1-year high of $14.94. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 0.76.

TIC Solutions (NYSE:TIC - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.14 earnings per share (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 company had revenue of $584.35 million during the quarter. Research analysts anticipate that TIC Solutions, Inc will post 0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird set a $10.00 target price on shares of TIC Solutions in a report on Friday, August 7th. JPMorgan Chase & Co. upgraded 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 research note on Friday, August 21st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of TIC Solutions in a research report on Friday, September 4th. UBS Group upgraded 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 research note 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 analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $12.00.

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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