Thermon Group Holdings Inc (NYSE:THR) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 341,100 shares, an increase of 7.3% from the August 15th total of 317,800 shares. Based on an average daily volume of 117,500 shares, the short-interest ratio is presently 2.9 days. Currently, 1.1% of the shares of the stock are sold short.
A number of brokerages recently weighed in on THR. Zacks Investment Research lowered shares of Thermon Group from a “buy” rating to a “hold” rating in a report on Friday, August 16th. ValuEngine raised shares of Thermon Group from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Thermon Group has a consensus rating of “Buy” and a consensus target price of $27.33.
In related news, Director John U. Clarke purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average price of $21.47 per share, with a total value of $107,350.00. Following the completion of the acquisition, the director now directly owns 5,917 shares in the company, valued at approximately $127,037.99. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Der Salm Johannes Rene Van sold 2,906 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $25.08, for a total transaction of $72,882.48. The disclosure for this sale can be found here. In the last three months, insiders purchased 8,650 shares of company stock valued at $186,965. 1.40% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. WCM Investment Management LLC grew its holdings in Thermon Group by 68.9% during the 1st quarter. WCM Investment Management LLC now owns 543,728 shares of the technology company’s stock worth $13,327,000 after acquiring an additional 221,819 shares during the period. Stone Ridge Asset Management LLC grew its holdings in Thermon Group by 4.8% during the 2nd quarter. Stone Ridge Asset Management LLC now owns 10,944 shares of the technology company’s stock worth $281,000 after acquiring an additional 500 shares during the period. Jennison Associates LLC grew its holdings in Thermon Group by 22.1% during the 1st quarter. Jennison Associates LLC now owns 533,588 shares of the technology company’s stock worth $13,078,000 after acquiring an additional 96,456 shares during the period. Janus Henderson Group PLC grew its holdings in Thermon Group by 8.5% during the 2nd quarter. Janus Henderson Group PLC now owns 1,792,591 shares of the technology company’s stock worth $45,980,000 after acquiring an additional 140,327 shares during the period. Finally, Impax Asset Management Group plc grew its holdings in Thermon Group by 51.6% during the 2nd quarter. Impax Asset Management Group plc now owns 359,712 shares of the technology company’s stock worth $9,227,000 after acquiring an additional 122,482 shares during the period.
THR traded up $0.13 during trading on Monday, reaching $22.99. 4,144 shares of the company’s stock were exchanged, compared to its average volume of 98,081. The company’s fifty day moving average price is $22.33 and its 200-day moving average price is $24.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.44 and a current ratio of 3.44. Thermon Group has a fifty-two week low of $18.37 and a fifty-two week high of $26.80. The firm has a market capitalization of $748.21 million, a PE ratio of 19.29 and a beta of 1.46.
Thermon Group (NYSE:THR) last released its earnings results on Thursday, August 8th. The technology company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). Thermon Group had a return on equity of 10.42% and a net margin of 5.10%. The business had revenue of $91.70 million for the quarter, compared to analyst estimates of $89.35 million. During the same period in the prior year, the firm posted $0.24 EPS. Thermon Group’s revenue was up 3.1% on a year-over-year basis. Research analysts forecast that Thermon Group will post 1.28 earnings per share for the current fiscal year.
Thermon Group Company Profile
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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