K2 Principal Fund L.P. Purchases Shares of 93,340 TIC Solutions, Inc $TIC

K2 Principal Fund L.P. purchased a new position in shares of TIC Solutions, Inc (NYSE:TIC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 93,340 shares of the company’s stock, valued at approximately $755,000.

Other institutional investors have also modified their holdings of the company. National Bank of Canada FI acquired a new position in shares of TIC Solutions in the 3rd quarter valued at about $53,000. Tower Research Capital LLC TRC acquired a new stake in TIC Solutions during the second quarter worth about $82,000. Dauntless Investment Group LLC acquired a new stake in TIC Solutions during the third quarter worth about $110,000. BNP Paribas Financial Markets purchased a new position in TIC Solutions during the second quarter valued at approximately $97,000. Finally, Financial Avengers Inc. purchased a new position in TIC Solutions during the third quarter valued at approximately $120,000.

TIC Solutions Trading Down 3.1%

Shares of TIC Solutions stock opened at $9.31 on Wednesday. The firm has a market capitalization of $2.03 billion, a PE ratio of -16.06 and a beta of 2.83. TIC Solutions, Inc has a twelve month low of $6.36 and a twelve month high of $14.94. The firm’s 50-day moving average price is $8.13 and its 200 day moving average price is $8.44. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 0.76.

TIC Solutions (NYSE:TIC) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.04. TIC Solutions had a negative return on equity of 2.30% and a negative net margin of 5.64%.The company had revenue of $584.35 million for the quarter. On average, sell-side analysts predict that TIC Solutions, Inc will post 0.23 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on TIC. Roth Capital restated a “buy” rating and issued a $11.50 price objective 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. Robert W. Baird set a $10.00 target price on shares of TIC Solutions in a research note on Friday, August 7th. UBS Group raised shares of TIC Solutions from a “neutral” rating to a “buy” rating and increased their price target for the stock from $11.00 to $12.50 in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of TIC Solutions from $7.00 to $9.00 and gave the company an “underweight” rating in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, TIC Solutions presently has a consensus rating of “Hold” and an average target price of $11.60.

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.