Thermon Group Holdings Inc. (NYSE:THR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
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. “
Other equities research analysts have also recently issued reports about the company. BMO Capital Markets set a $19.00 price objective on Thermon Group Holdings and gave the stock a “hold” rating in a research note on Wednesday, September 14th. SunTrust Banks Inc. dropped their target price on Thermon Group Holdings from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, August 4th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $19.75.
Thermon Group Holdings (NYSE:THR) opened at 20.37 on Thursday. Thermon Group Holdings has a 52-week low of $13.97 and a 52-week high of $22.59. The company’s 50-day moving average price is $18.96 and its 200-day moving average price is $19.23. The company has a market cap of $657.08 million, a price-to-earnings ratio of 31.34 and a beta of 1.09.
Thermon Group Holdings (NYSE:THR) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.07. Thermon Group Holdings had a return on equity of 8.78% and a net margin of 7.54%. The company had revenue of $63.40 million for the quarter, compared to the consensus estimate of $64.09 million. During the same period in the previous year, the firm earned $0.18 earnings per share. The company’s revenue was down 2.8% compared to the same quarter last year. Equities research analysts expect that Thermon Group Holdings will post $0.73 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its stake in shares of Thermon Group Holdings by 8.9% in the second quarter. Nisa Investment Advisors LLC now owns 6,100 shares of the company’s stock worth $117,000 after buying an additional 500 shares during the last quarter. BlackRock Inc. raised its stake in shares of Thermon Group Holdings by 224.0% in the second quarter. BlackRock Inc. now owns 8,518 shares of the company’s stock worth $164,000 after buying an additional 5,889 shares during the last quarter. Acrospire Investment Management LLC purchased a new stake in shares of Thermon Group Holdings during the second quarter worth about $165,000. Menta Capital LLC raised its stake in shares of Thermon Group Holdings by 7.7% in the first quarter. Menta Capital LLC now owns 16,850 shares of the company’s stock worth $296,000 after buying an additional 1,200 shares during the last quarter. Finally, Numeric Investors LLC purchased a new stake in shares of Thermon Group Holdings during the second quarter worth about $296,000.
Thermon Group Holdings Company Profile
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