Squarepoint Ops LLC Has $2.44 Million Stock Holdings in TIC Solutions, Inc $TIC

Squarepoint Ops LLC grew its stake in shares of TIC Solutions, Inc (NYSE:TIC) by 522.5% in the second quarter, HoldingsChannel.com reports. The fund owned 302,249 shares of the company’s stock after acquiring an additional 253,697 shares during the quarter. Squarepoint Ops LLC’s holdings in TIC Solutions were worth $2,445,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Permian Investment Partners LP bought a new stake in shares of TIC Solutions in the 2nd quarter valued at about $172,398,660. Jefferies Financial Group Inc. acquired a new position in shares of TIC Solutions in the 2nd quarter valued at about $40,450,000. Bank of America Corp DE bought a new position in shares of TIC Solutions during the 2nd quarter worth approximately $13,631,000. California State Teachers Retirement System grew its holdings in TIC Solutions by 603.6% in the second quarter. California State Teachers Retirement System now owns 1,330,781 shares of the company’s stock worth $10,766,000 after purchasing an additional 1,141,642 shares during the period. Finally, NewEdge Wealth LLC acquired a new stake in shares of TIC Solutions in the 2nd quarter valued at about $8,030,000.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TIC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TIC Solutions in a research note on Friday, September 4th. JPMorgan Chase & Co. upgraded TIC Solutions from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $9.00 to $11.00 in a report on Friday, August 21st. Zacks Research raised TIC Solutions from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 15th. UBS Group upgraded TIC Solutions from a “neutral” rating to a “buy” rating and raised their price objective for the company from $11.00 to $12.50 in a research note on Tuesday, August 11th. Finally, Robert W. Baird set a $10.00 price objective on shares of TIC Solutions in a report on Friday, August 7th. Three research 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, the stock currently has an average rating of “Hold” and a consensus target price of $12.00.

TIC Solutions Trading Down 1.2%

NYSE:TIC opened at $9.45 on Tuesday. TIC Solutions, Inc has a 52 week low of $6.36 and a 52 week high of $14.94. The firm has a 50-day moving average price of $8.59 and a two-hundred day moving average price of $8.41. 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 firm has a market cap of $2.06 billion, a price-to-earnings ratio of -16.28 and a beta of 2.96.

TIC Solutions (NYSE:TIC) last released 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 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%. On average, equities analysts expect that TIC Solutions, Inc 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.