The Manufacturers Life Insurance Company Takes Position in TIC Solutions, Inc $TIC

The Manufacturers Life Insurance Company purchased a new position in shares of TIC Solutions, Inc (NYSE:TIC) in the second quarter, Holdings Channel.com reports. The fund purchased 85,624 shares of the company’s stock, valued at approximately $693,000.

Several other institutional investors have also recently made changes to their positions in TIC. Quantbot Technologies LP purchased a new position in TIC Solutions in the second quarter worth approximately $29,000. Ieq Capital LLC purchased a new position in shares of TIC Solutions during the 2nd quarter worth $859,000. NewEdge Wealth LLC acquired a new stake in shares of TIC Solutions during the 2nd quarter worth about $8,030,000. K2 Principal Fund L.P. acquired a new stake in shares of TIC Solutions during the 2nd quarter worth about $755,000. Finally, Pallas Capital Advisors LLC purchased a new stake in TIC Solutions in the 2nd quarter valued at about $112,000.

TIC Solutions Price Performance

Shares of TIC opened at $9.38 on Monday. TIC Solutions, Inc has a fifty-two week low of $6.36 and a fifty-two week high of $14.94. The firm’s 50 day moving average price is $8.43 and its 200 day moving average price is $8.41. The company has a market cap of $2.05 billion, a P/E ratio of -16.17 and a beta of 2.96. 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 (NYSE:TIC) last released its earnings results on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping 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, research analysts forecast that TIC Solutions, Inc will post 0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TIC has been the subject of several research analyst reports. UBS Group raised shares of TIC Solutions from a “neutral” rating to a “buy” rating and increased their target price for the stock from $11.00 to $12.50 in a research note on Tuesday, August 11th. Weiss Ratings restated a “sell (d-)” rating on shares of TIC Solutions in a report on Tuesday, June 9th. Robert W. Baird set a $10.00 price objective on shares of TIC Solutions in a research report on Friday, August 7th. JPMorgan Chase & Co. upgraded shares of TIC Solutions from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $9.00 to $11.00 in a report on Friday, August 21st. Finally, Zacks Research upgraded TIC Solutions from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 15th. Three investment 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.00.

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.