Formula Growth Ltd. Invests $550,000 in TIC Solutions, Inc $TIC

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

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

TIC Solutions Price Performance

TIC stock opened at $9.82 on Friday. The company has a market capitalization of $2.14 billion, a PE ratio of -16.93 and a beta of 2.83. The company’s fifty day moving average price is $8.29 and its 200-day moving average price is $8.42. TIC Solutions, Inc has a one year low of $6.36 and a one year high of $14.94. 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 announced its quarterly 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. The company 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, equities analysts anticipate that TIC Solutions, Inc will post 0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TIC has been the topic of several recent analyst reports. Zacks Research upgraded shares of TIC Solutions from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 15th. Roth Capital reaffirmed a “buy” rating and issued a $11.50 target price on shares of TIC Solutions in a report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of TIC Solutions in a research note on Tuesday, June 9th. Robert W. Baird set a $10.00 price target on TIC Solutions in a report on Friday, August 7th. Finally, UBS Group raised TIC Solutions from a “neutral” rating to a “buy” rating and raised their price target for the company from $11.00 to $12.50 in a report on Tuesday, August 11th. 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.00.

TIC Solutions Profile

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.