Thermon Group (THR) Raised to “Buy” at Zacks Investment Research

Thermon Group (NYSE:THR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $25.00 target price on the technology company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.71% from the company’s current price.

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. “

A number of other research analysts have also recently issued reports on THR. SunTrust Banks reaffirmed a “hold” rating and issued a $20.00 price target on shares of Thermon Group in a report on Tuesday, October 24th. BMO Capital Markets lifted their price target on Thermon Group from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, October 24th. TheStreet raised Thermon Group from a “c” rating to a “b-” rating in a report on Monday, October 23rd. Finally, William Blair raised Thermon Group from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 29th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $25.25.

Shares of Thermon Group (NYSE THR) traded up $0.12 during trading hours on Wednesday, hitting $22.38. 78,853 shares of the stock traded hands, compared to its average volume of 114,251. Thermon Group has a 52 week low of $15.74 and a 52 week high of $26.50. The company has a debt-to-equity ratio of 0.71, a current ratio of 4.27 and a quick ratio of 3.04. The firm has a market cap of $718.11, a P/E ratio of 79.82 and a beta of 0.96.

Thermon Group (NYSE:THR) last issued its earnings results on Thursday, February 8th. The technology company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.05. Thermon Group had a net margin of 3.33% and a return on equity of 5.16%. The company had revenue of $92.70 million for the quarter, compared to the consensus estimate of $80.42 million. During the same quarter in the previous year, the company earned $0.16 EPS. The firm’s revenue for the quarter was up 44.2% compared to the same quarter last year. equities research analysts predict that Thermon Group will post 0.62 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in Thermon Group during the 3rd quarter worth about $144,000. Victory Capital Management Inc. grew its position in shares of Thermon Group by 37.1% during the 3rd quarter. Victory Capital Management Inc. now owns 10,840 shares of the technology company’s stock worth $195,000 after buying an additional 2,936 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Thermon Group during the 4th quarter worth about $210,000. Aperio Group LLC acquired a new position in shares of Thermon Group during the 4th quarter worth about $230,000. Finally, Nisa Investment Advisors LLC grew its position in shares of Thermon Group by 87.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,480 shares of the technology company’s stock worth $248,000 after buying an additional 4,900 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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