K2 Principal Fund L.P. Invests $755,000 in TIC Solutions, Inc $TIC

K2 Principal Fund L.P. acquired a new position in shares of TIC Solutions, Inc (NYSE:TIC) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 93,340 shares of the company’s stock, valued at approximately $755,000.

A number of other institutional investors also recently added to or reduced their stakes in TIC. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in TIC Solutions by 10.1% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,688 shares of the company’s stock valued at $83,000 after purchasing an additional 1,165 shares during the last quarter. HB Wealth Management LLC lifted its position in shares of TIC Solutions by 22.9% during the first quarter. HB Wealth Management LLC now owns 18,521 shares of the company’s stock valued at $122,000 after buying an additional 3,445 shares during the last quarter. National Bank of Canada FI bought a new stake in shares of TIC Solutions in the 3rd quarter valued at about $53,000. Handelsbanken Fonder AB boosted its holdings in shares of TIC Solutions by 10.2% in the 2nd quarter. Handelsbanken Fonder AB now owns 45,200 shares of the company’s stock valued at $366,000 after buying an additional 4,200 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in shares of TIC Solutions in the 2nd quarter worth approximately $82,000.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TIC shares. UBS Group upgraded shares of TIC Solutions from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $11.00 to $12.50 in a research note on Tuesday, August 11th. Robert W. Baird set a $10.00 price target on shares of TIC Solutions in a report on Friday, August 7th. Zacks Research raised shares of TIC Solutions from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. upped their price target on TIC Solutions from $7.00 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, May 7th. Finally, Roth Capital reiterated a “buy” rating and set a $11.50 price objective on shares of TIC Solutions in a report on Thursday, May 7th. Three equities 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.com, the company currently has a consensus rating of “Hold” and an average target price of $11.60.

TIC Solutions Trading Down 3.1%

Shares of NYSE:TIC opened at $9.31 on Wednesday. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 0.76. TIC Solutions, Inc has a 52-week low of $6.36 and a 52-week high of $14.94. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of -16.06 and a beta of 2.83. The business has a 50-day moving average price of $8.13 and a 200-day moving average price of $8.44.

TIC Solutions (NYSE:TIC) last issued its earnings results on Thursday, August 6th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $584.35 million for the quarter. Equities analysts predict that TIC Solutions, Inc will post 0.23 EPS for the current year.

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.