Zacks Investment Research upgraded shares of Thermon Group (NYSE:THR) from a hold rating to a buy rating in a report released on Tuesday, May 29th. Zacks Investment Research currently has $26.00 target price on the technology company’s stock.
According to Zacks, “Thermon Holding Corp. is engaged in providing engineered thermal solutions, known as heat tracing, for process industries, including energy, chemical processing and power generation. Products offered by the Company include heating cables, tubing bundles and control systems while services offered by it includes design optimization, engineering, installation and maintenance services. Its products provide an external heat source to pipes, vessels and instruments for the purposes of freeze protection, temperature and flow maintenance and environmental monitoring. Thermon Holding Corp. is based in San Marcos, Texas. “
THR has been the topic of several other research reports. ValuEngine raised shares of Thermon Group from a hold rating to a buy rating in a research note on Wednesday, May 9th. TheStreet cut shares of Thermon Group from a b- rating to a c rating in a research note on Friday, February 9th. BMO Capital Markets lifted their price objective on shares of Thermon Group to $31.00 and gave the stock an outperform rating in a research note on Friday, February 9th. Finally, Johnson Rice raised shares of Thermon Group from a hold rating to an accumulate rating and set a $29.00 price objective on the stock in a research note on Thursday, April 26th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Thermon Group presently has an average rating of Hold and a consensus target price of $26.20.
Thermon Group stock traded up $0.42 during trading hours on Tuesday, hitting $24.13. 75,700 shares of the company traded hands, compared to its average volume of 101,212. The stock has a market cap of $754.28 million, a price-to-earnings ratio of 24.11 and a beta of 0.92. The company has a current ratio of 3.53, a quick ratio of 2.51 and a debt-to-equity ratio of 0.63. Thermon Group has a 1-year low of $15.74 and a 1-year high of $26.50.
Thermon Group (NYSE:THR) last released its earnings results on Tuesday, May 22nd. The technology company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.15. The firm had revenue of $102.60 million for the quarter, compared to analysts’ expectations of $96.30 million. Thermon Group had a net margin of 3.86% and a return on equity of 7.46%. Thermon Group’s quarterly revenue was up 51.8% on a year-over-year basis. During the same quarter last year, the company earned $0.10 EPS. research analysts expect that Thermon Group will post 0.88 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in THR. SG Americas Securities LLC acquired a new position in shares of Thermon Group in the first quarter worth about $136,000. Quadrature Capital Ltd acquired a new stake in shares of Thermon Group during the fourth quarter worth approximately $210,000. Aperio Group LLC acquired a new stake in shares of Thermon Group during the fourth quarter worth approximately $230,000. Teacher Retirement System of Texas acquired a new stake in shares of Thermon Group during the fourth quarter worth approximately $266,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Thermon Group by 22.4% during the first quarter. Victory Capital Management Inc. now owns 14,528 shares of the technology company’s stock worth $326,000 after purchasing an additional 2,658 shares during the period.
About Thermon Group
Thermon Group Holdings, Inc provides thermal engineered industrial process heating solutions for process industries in the United States, Canada, Europe, and Asia. Its products include various electric heat tracing cables, steam tracing components, tubing bundles, and instrument and control products, as well as complementary product lines.
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