Thermon Group Holdings, Inc. (THR) Stock Rating Upgraded by Zacks Investment Research
Thermon Group Holdings, Inc. (NYSE:THR) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued 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 research analysts also recently issued reports about the stock. Wolfe Research began coverage on shares of Thermon Group Holdings in a report on Tuesday, July 11th. They issued a “market perform” rating for the company. ValuEngine raised shares of Thermon Group Holdings from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. BMO Capital Markets cut their price target on shares of Thermon Group Holdings from $23.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, August 3rd. BidaskClub raised shares of Thermon Group Holdings from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $25.00 price target (up from $21.00) on shares of Thermon Group Holdings in a report on Friday, October 6th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $24.50.
Thermon Group Holdings (NYSE:THR) traded up 0.48% during midday trading on Thursday, hitting $21.00. 193,031 shares of the stock were exchanged. Thermon Group Holdings has a 1-year low of $15.74 and a 1-year high of $21.52. The firm has a market capitalization of $680.44 million, a P/E ratio of 55.41 and a beta of 0.97. The firm’s 50-day moving average price is $18.70 and its 200 day moving average price is $18.77.
Thermon Group Holdings (NYSE:THR) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.04). The business had revenue of $51.70 million during the quarter, compared to the consensus estimate of $58.35 million. Thermon Group Holdings had a return on equity of 3.88% and a net margin of 4.99%. The firm’s quarterly revenue was down 18.5% on a year-over-year basis. During the same period last year, the business posted $0.08 earnings per share. Analysts expect that Thermon Group Holdings will post $0.43 earnings per share for the current fiscal year.
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A number of large investors have recently made changes to their positions in THR. UBS Asset Management Americas Inc. bought a new position in Thermon Group Holdings in the 1st quarter valued at $215,000. Parametric Portfolio Associates LLC boosted its holdings in Thermon Group Holdings by 2.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 31,131 shares of the technology company’s stock valued at $649,000 after purchasing an additional 867 shares during the period. SG Americas Securities LLC bought a new position in Thermon Group Holdings in the 1st quarter valued at $109,000. Victory Capital Management Inc. boosted its holdings in Thermon Group Holdings by 32.5% in the 1st quarter. Victory Capital Management Inc. now owns 6,719 shares of the technology company’s stock valued at $140,000 after purchasing an additional 1,647 shares during the period. Finally, American International Group Inc. boosted its holdings in Thermon Group Holdings by 7.1% in the 1st quarter. American International Group Inc. now owns 19,705 shares of the technology company’s stock valued at $411,000 after purchasing an additional 1,313 shares during the period.
Thermon Group Holdings Company Profile
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