Man Group plc Acquires New Stake in TIC Solutions, Inc $TIC

Man Group plc bought a new position in TIC Solutions, Inc (NYSE:TIC) in the second quarter, Holdings Channel reports. The firm bought 103,848 shares of the company’s stock, valued at approximately $840,000.

A number of other institutional investors have also recently made changes to their positions in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in TIC Solutions by 10.1% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,688 shares of the company’s stock worth $83,000 after acquiring an additional 1,165 shares during the last quarter. HB Wealth Management LLC raised its holdings in TIC Solutions by 22.9% during the 1st quarter. HB Wealth Management LLC now owns 18,521 shares of the company’s stock valued at $122,000 after acquiring an additional 3,445 shares during the period. Quantbot Technologies LP purchased a new stake in shares of TIC Solutions during the second quarter worth $29,000. National Bank of Canada FI purchased a new position in shares of TIC Solutions in the third quarter valued at $53,000. Finally, Handelsbanken Fonder AB lifted its holdings in TIC Solutions by 10.2% during the 2nd quarter. Handelsbanken Fonder AB now owns 45,200 shares of the company’s stock worth $366,000 after purchasing an additional 4,200 shares in the last quarter.

Analyst Ratings Changes

TIC has been the subject of a number of analyst reports. 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. JPMorgan Chase & Co. upgraded shares of TIC Solutions from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $9.00 to $11.00 in a research report on Friday, August 21st. Weiss Ratings restated a “sell (d-)” rating on shares of TIC Solutions in a research report on Tuesday, June 9th. Zacks Research upgraded TIC Solutions from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 15th. Finally, Robert W. Baird set a $10.00 price objective on shares of TIC Solutions in a research note on Friday, August 7th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $12.00.

TIC Solutions Stock Down 0.5%

Shares of NYSE:TIC opened at $9.31 on Friday. TIC Solutions, Inc has a 1 year low of $6.36 and a 1 year high of $14.94. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.91 and a quick ratio of 2.91. The stock’s 50-day moving average is $8.41 and its 200 day moving average is $8.41. The company has a market cap of $2.03 billion, a PE ratio of -16.05 and a beta of 2.96.

TIC Solutions (NYSE:TIC) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.14 EPS for the quarter, topping 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 company had revenue of $584.35 million during the quarter. Sell-side analysts anticipate that TIC Solutions, Inc will post 0.29 EPS for the current year.

TIC Solutions Company 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.