Formula Growth Ltd. Makes New Investment in TIC Solutions, Inc $TIC

Formula Growth Ltd. acquired a new position in TIC Solutions, Inc (NYSE:TIC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 67,985 shares of the company’s stock, valued at approximately $550,000.

Several other hedge funds have also modified their holdings of the company. Permian Investment Partners LP bought a new position in shares of TIC Solutions during the 2nd quarter valued at approximately $172,398,660,000. Jefferies Financial Group Inc. bought a new stake in TIC Solutions in the second quarter worth $40,450,000. Dimensional Fund Advisors LP bought a new stake in TIC Solutions in the third quarter worth $43,579,000. Millennium Management LLC purchased a new stake in TIC Solutions during the third quarter valued at $29,705,000. Finally, Bank of America Corp DE purchased a new stake in TIC Solutions during the second quarter valued at $13,631,000.

Wall Street Analyst Weigh In

Several equities analysts have commented on TIC shares. Robert W. Baird set a $10.00 price objective on shares of TIC Solutions in a research report on Friday, August 7th. JPMorgan Chase & Co. upgraded shares of TIC Solutions from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $9.00 to $11.00 in a report on Friday, August 21st. Roth Capital restated a “buy” rating and set a $11.50 target price on shares of TIC Solutions in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TIC Solutions in a report on Tuesday, June 9th. Finally, Zacks Research upgraded TIC Solutions from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 15th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.00.

TIC Solutions Stock Performance

NYSE TIC opened at $9.82 on Friday. The business’s 50 day moving average price is $8.29 and its 200-day moving average price is $8.42. TIC Solutions, Inc has a fifty-two week low of $6.36 and a fifty-two week high of $14.94. The company has a market cap of $2.14 billion, a P/E ratio of -16.93 and a beta of 2.83. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.91 and a current ratio of 2.91.

TIC Solutions (NYSE:TIC) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. The company had revenue of $584.35 million during the quarter. TIC Solutions had a negative return on equity of 2.30% and a negative net margin of 5.64%. Sell-side analysts predict that TIC Solutions, Inc will post 0.29 earnings per share for the current year.

About TIC Solutions

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.