TIC Solutions (NYSE:TIC) Stock Sees Heavy Call Option Buying

Key Points

• Unusually heavy call-option activity: Traders purchased 50,486 TIC Solutions call options, roughly 6,560% above the typical daily volume of 758 contracts.
• Shares rose 8.8% to $8.99 during Tuesday trading, while the company reported quarterly EPS of $0.14, beating analyst estimates of $0.10 on revenue of $584.35 million.
• Analyst sentiment remains mixed: UBS upgraded the stock to “buy,” while other firms maintained neutral, hold, or sell views; the consensus rating is “Hold” with a $12.00 price target.

TIC Solutions, Inc (NYSE:TIC - Get Free Report) was the target of unusually large options trading on Tuesday. Traders acquired 50,486 call options on the stock. This is an increase of approximately 6,560% compared to the typical daily volume of 758 call options.

TIC Solutions Stock Up 8.8%

Shares of TIC stock traded up $0.73 during trading hours on Tuesday, hitting $8.99. 616,438 shares of the company's stock traded hands, compared to its average volume of 2,325,823. TIC Solutions has a 12-month low of $6.36 and a 12-month high of $14.65. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 0.76. The stock's fifty day simple moving average is $9.07 and its two-hundred day simple moving average is $8.42. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -15.47 and a beta of 3.00.

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

Institutional Trading of TIC Solutions

Several institutional investors and hedge funds have recently modified their holdings of the company. IFP Advisors Inc increased its stake in TIC Solutions by 137.5% during the 2nd quarter. IFP Advisors Inc now owns 3,441 shares of the company's stock worth $28,000 after buying an additional 1,992 shares in the last quarter. Quantbot Technologies LP acquired a new stake in TIC Solutions in the 2nd quarter valued at about $29,000. Versant Capital Management Inc lifted its position in TIC Solutions by 446.1% during the third quarter. Versant Capital Management Inc now owns 4,822 shares of the company's stock worth $40,000 after buying an additional 3,939 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of TIC Solutions during the 1st quarter valued at about $69,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of TIC Solutions by 10.1% during 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 Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group upgraded 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 research note on Tuesday, August 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of TIC Solutions in a research note on Friday, September 4th. Robert W. Baird set a $10.00 target price on TIC Solutions in a research note on Friday, August 7th. Zacks Research upgraded shares of TIC Solutions from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. upgraded TIC Solutions from an "underweight" rating to a "neutral" rating and boosted their price objective for the company from $9.00 to $11.00 in a research report on Friday, August 21st. Three equities research 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. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus 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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