Wall Street analysts predict that Thermon Group Holdings, Inc. (NYSE:THR) will announce $58.61 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Thermon Group Holdings’ earnings. The highest sales estimate is $59.00 million and the lowest is $57.90 million. Thermon Group Holdings reported sales of $63.40 million in the same quarter last year, which would suggest a negative year over year growth rate of 7.6%. The firm is expected to announce its next earnings report on Wednesday, August 2nd.

On average, analysts expect that Thermon Group Holdings will report full-year sales of $58.61 million for the current fiscal year, with estimates ranging from $259.78 million to $263.10 million. For the next year, analysts forecast that the business will post sales of $277.83 million per share, with estimates ranging from $272.70 million to $281.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Thermon Group Holdings.

Thermon Group Holdings (NYSE:THR) last posted its earnings results on Wednesday, May 24th. The technology company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.03. Thermon Group Holdings had a return on equity of 4.60% and a net margin of 5.54%. The business had revenue of $67.60 million for the quarter, compared to the consensus estimate of $66.24 million. During the same period in the previous year, the firm earned $0.20 earnings per share. The company’s revenue was down 6.5% compared to the same quarter last year.

A number of research firms have weighed in on THR. BidaskClub lowered Thermon Group Holdings from a “buy” rating to a “hold” rating in a research note on Thursday. Wolfe Research began coverage on Thermon Group Holdings in a research note on Tuesday, July 11th. They issued a “market perform” rating on the stock. ValuEngine upgraded Thermon Group Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Jefferies Group LLC reiterated a “buy” rating and issued a $22.00 target price (up previously from $21.00) on shares of Thermon Group Holdings in a research note on Sunday, May 28th. Finally, BMO Capital Markets upgraded Thermon Group Holdings from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $20.00 to $23.00 in a research note on Monday, March 27th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $21.00.

Thermon Group Holdings (NYSE:THR) traded down 0.05% during midday trading on Friday, reaching $18.40. 83,611 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $19.14 and a 200-day moving average of $19.84. The stock has a market cap of $595.61 million, a PE ratio of 40.89 and a beta of 1.00. Thermon Group Holdings has a 12 month low of $16.50 and a 12 month high of $21.48.

A number of hedge funds have recently added to or reduced their stakes in THR. SG Americas Securities LLC purchased a new position in Thermon Group Holdings during the first quarter worth about $109,000. Victory Capital Management Inc. increased its position in Thermon Group Holdings by 32.5% in the first quarter. Victory Capital Management Inc. now owns 6,719 shares of the technology company’s stock worth $140,000 after buying an additional 1,647 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new position in Thermon Group Holdings during the first quarter worth about $215,000. Wrapmanager Inc. purchased a new position in Thermon Group Holdings during the first quarter worth about $223,000. Finally, OLD National Bancorp IN increased its position in Thermon Group Holdings by 7.8% in the first quarter. OLD National Bancorp IN now owns 15,523 shares of the technology company’s stock worth $323,000 after buying an additional 1,119 shares during the last quarter.

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Earnings History and Estimates for Thermon Group Holdings (NYSE:THR)

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