Brokerages expect that Thermon Group Holdings Inc (NYSE:THR) will post $73.11 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Thermon Group’s earnings. The highest sales estimate is $80.43 million and the lowest is $65.80 million. Thermon Group posted sales of $64.34 million in the same quarter last year, which suggests a positive year over year growth rate of 13.6%. The business is scheduled to issue its next quarterly earnings results before the market opens on Wednesday, February 14th.
According to Zacks, analysts expect that Thermon Group will report full year sales of $73.11 million for the current year, with estimates ranging from $250.10 million to $293.14 million. For the next financial year, analysts forecast that the firm will report sales of $314.63 million per share, with estimates ranging from $268.70 million to $360.56 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Thermon Group.
A number of research analysts recently weighed in on THR shares. William Blair raised shares of Thermon Group from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 29th. Zacks Investment Research lowered shares of Thermon Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. BMO Capital Markets raised their target price on shares of Thermon Group from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, October 24th. SunTrust Banks reissued a “hold” rating and issued a $20.00 target price on shares of Thermon Group in a report on Tuesday, October 24th. Finally, TheStreet raised shares of Thermon Group from a “c” rating to a “b-” rating in a report on Monday, October 23rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $24.25.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC boosted its stake in Thermon Group by 5.4% during the third quarter. Janus Henderson Group PLC now owns 2,702,843 shares of the technology company’s stock worth $48,624,000 after buying an additional 139,243 shares during the period. Vanguard Group Inc. boosted its stake in Thermon Group by 4.4% during the second quarter. Vanguard Group Inc. now owns 2,615,497 shares of the technology company’s stock worth $50,138,000 after buying an additional 110,975 shares during the period. Dimensional Fund Advisors LP boosted its stake in Thermon Group by 9.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,665,337 shares of the technology company’s stock worth $29,960,000 after buying an additional 148,173 shares during the period. American Century Companies Inc. boosted its stake in Thermon Group by 93.3% during the third quarter. American Century Companies Inc. now owns 673,701 shares of the technology company’s stock worth $12,120,000 after buying an additional 325,206 shares during the period. Finally, State Street Corp boosted its stake in Thermon Group by 6.6% during the second quarter. State Street Corp now owns 630,757 shares of the technology company’s stock worth $12,092,000 after buying an additional 39,271 shares during the period.
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Thermon Group Company Profile
Thermon Group Holdings, Inc is a provider of engineered thermal solutions for process industries. The Company operates through four segments based on four geographic countries or regions: United States, Canada, Europe and Asia. Its product portfolio includes self-regulating and power limiting heating cables, which change heat output as pipe temperature changes, as well as constant wattage heating cables; mineral insulated (MI) cable; skin effect trace heater; heat traced tube bundles for environmental gas sampling systems; heat transfer compounds and steam tracers for steam tracing solutions; control and monitoring systems for electric tracing of pipes, tanks, hoppers and instrument sampling systems; turnkey solutions that provide solutions for heat tracing, including design, optimization, installation and ongoing maintenance; products and services, such as heating, sensing, monitoring, controlling and calibration tools, and temporary electric power distribution and lighting products.
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