TIC Solutions, Inc (NYSE:TIC – Get Free Report) saw unusually large options trading on Tuesday. Stock traders bought 50,486 call options on the company. This represents an increase of 6,560% compared to the typical daily volume of 758 call options.
Institutional Trading of TIC Solutions
Several large investors have recently added to or reduced their stakes in the business. Deutsche Bank AG bought a new stake in shares of TIC Solutions in the 2nd quarter valued at approximately $1,510,000. Quantinno Capital Management LP grew its position in 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 acquiring an additional 151,968 shares during the period. Legal & General Group Plc acquired a new position in TIC Solutions during the second quarter worth $868,000. Bank of New York Mellon Corp acquired a new position in TIC Solutions during the second quarter worth $4,468,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of TIC Solutions during the second quarter valued at $40,450,000.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TIC Solutions in a research report on Friday, September 4th. JPMorgan Chase & Co. raised 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 research note on Friday, August 21st. Robert W. Baird set a $10.00 price target on TIC Solutions in a research note on Friday, August 7th. 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 report on Tuesday, August 11th. Finally, Zacks Research raised shares of TIC Solutions from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 15th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.00.
TIC Solutions Price Performance
TIC Solutions stock traded up $0.73 during trading hours on Tuesday, hitting $8.99. The stock had a trading volume of 616,438 shares, compared to its average volume of 2,325,823. TIC Solutions has a 1-year low of $6.36 and a 1-year high of $14.65. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of -15.47 and a beta of 3.00. The stock’s fifty day moving average is $9.07 and its two-hundred day moving average is $8.42. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.91 and a quick ratio of 2.91.
TIC Solutions (NYSE:TIC – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.14 EPS for the quarter, beating 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 net margin of 5.64% and a negative return on equity of 2.30%. As a group, analysts predict that TIC Solutions will post 0.29 earnings per share for the current fiscal year.
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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