Insider Buying: John T. Nesser III Purchases 1,720 Shares of Thermon Group Holdings Stock (THR)
Thermon Group Holdings (NYSE:THR) Director John T. Nesser III purchased 1,720 shares of Thermon Group Holdings stock in a transaction that occurred on Monday, June 2nd. The stock was purchased at an average price of $23.48 per share, for a total transaction of $40,385.60. Following the purchase, the director now directly owns 3,811 shares in the company, valued at approximately $89,482. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Thermon Group Holdings (NYSE:THR) traded up 0.25% on Tuesday, hitting $23.61. 83,761 shares of the company’s stock traded hands. Thermon Group Holdings has a 52 week low of $18.80 and a 52 week high of $29.06. The stock has a 50-day moving average of $23.72 and a 200-day moving average of $25.55. The company has a market cap of $752.3 million and a price-to-earnings ratio of 29.44.
Thermon Group Holdings (NYSE:THR) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.32 by $0.02. The company had revenue of $67.50 million for the quarter, compared to the consensus estimate of $72.87 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue was down 5.9% on a year-over-year basis. Analysts expect that Thermon Group Holdings will post $1.32 EPS for the current fiscal year.
A number of analysts have recently weighed in on THR shares. Analysts at Jefferies Group cut their price target on shares of Thermon Group Holdings from $32.00 to $30.00 in a research note on Wednesday, May 28th. They now have a “buy” rating on the stock. Analysts at KeyCorp downgraded shares of Thermon Group Holdings from a “buy” rating to a “hold” rating in a research note on Monday, May 19th. They now have a $29.50 price target on the stock. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Thermon Group Holdings currently has a consensus rating of “Hold” and a consensus target price of $28.18.
Thermon Group Holdings, Inc provides thermal solutions for process industries. The Company provides a range of products, including heating cables, tubing bundles and control systems, and services, including design optimization, engineering, installation and maintenance services.
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