Traders Purchase Large Volume of Call Options on TIC Solutions (NYSE:TIC)

TIC Solutions, Inc (NYSE:TIC) was the recipient of unusually large options trading on Tuesday. Investors bought 50,486 call options on the company. This represents an increase of 6,560% compared to the typical volume of 758 call options.

TIC Solutions Stock Performance

Shares of NYSE TIC opened at $8.77 on Thursday. The business’s 50-day moving average price is $9.13 and its two-hundred day moving average price is $8.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.91 and a quick ratio of 2.91. TIC Solutions has a one year low of $6.36 and a one year high of $14.65. The company has a market capitalization of $1.91 billion, a P/E ratio of -15.13 and a beta of 3.00.

TIC Solutions (NYSE:TIC) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Analysts anticipate that TIC Solutions will post 0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On TIC Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TIC. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position 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 worth $83,000 after acquiring an additional 1,165 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of TIC Solutions by 137.5% during the 2nd quarter. IFP Advisors Inc now owns 3,441 shares of the company’s stock valued at $28,000 after purchasing an additional 1,992 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of TIC Solutions by 9.2% during the 2nd quarter. NewEdge Advisors LLC now owns 28,210 shares of the company’s stock valued at $228,000 after purchasing an additional 2,365 shares in the last quarter. HB Wealth Management LLC lifted its stake in shares of TIC Solutions by 14.8% in the 2nd quarter. HB Wealth Management LLC now owns 21,260 shares of the company’s stock valued at $172,000 after purchasing an additional 2,739 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of TIC Solutions in the 2nd quarter valued at $29,000.

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.