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

Moore Capital Management LP reduced its position in shares of TIC Solutions, Inc (NYSE:TIC) by 50.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 250,000 shares of the company’s stock after selling 250,000 shares during the quarter. Moore Capital Management LP’s holdings in TIC Solutions were worth $2,022,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TIC. Permian Investment Partners LP purchased a new position in shares of TIC Solutions during the 2nd quarter worth approximately $172,398,660. Jefferies Financial Group Inc. bought a new stake in shares of TIC Solutions during the 2nd quarter valued at $40,450,000. Dimensional Fund Advisors LP purchased a new stake in shares of TIC Solutions in the 3rd quarter worth about $43,579,000. Millennium Management LLC bought a new position in shares of TIC Solutions in the 3rd quarter worth about $29,705,000. Finally, Bank of America Corp DE purchased a new position in TIC Solutions during the 2nd quarter valued at about $13,631,000.

TIC Solutions Price Performance

NYSE TIC opened at $9.54 on Tuesday. TIC Solutions, Inc has a one year low of $6.36 and a one year high of $14.94. The stock has a 50-day moving average of $8.34 and a 200 day moving average of $8.42. 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 company has a market capitalization of $2.08 billion, a price-to-earnings ratio of -16.45 and a beta of 2.83.

TIC Solutions (NYSE:TIC) last posted its earnings results on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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, sell-side analysts forecast that TIC Solutions, Inc will post 0.29 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TIC shares. JPMorgan Chase & Co. raised shares of TIC Solutions from an “underweight” rating to a “neutral” rating and raised their target price for the company from $9.00 to $11.00 in a research note on Friday, August 21st. Zacks Research upgraded shares of TIC Solutions from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TIC Solutions in a report on Tuesday, June 9th. UBS Group upgraded shares of TIC Solutions from a “neutral” rating to a “buy” rating and upped their target price for the stock from $11.00 to $12.50 in a research note on Tuesday, August 11th. Finally, Robert W. Baird set a $10.00 price target on shares of TIC Solutions in a report on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $12.00.

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.