Thermon Group (THR) Stock Rating Lowered by Zacks Investment Research

Thermon Group (NYSE:THR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research 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. “

A number of other research analysts have also commented on THR. SunTrust Banks reiterated a “hold” rating and issued a $20.00 price objective on shares of Thermon Group in a research report on Tuesday, October 24th. BMO Capital Markets increased their price objective on Thermon Group from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, October 24th. TheStreet upgraded Thermon Group from a “c” rating to a “b-” rating in a research report on Monday, October 23rd. Finally, William Blair upgraded Thermon Group from a “market perform” rating to an “outperform” rating in a research report on Wednesday, November 29th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $25.25.

Shares of Thermon Group (NYSE:THR) traded down $0.24 on Thursday, reaching $22.25. The company’s stock had a trading volume of 29,552 shares, compared to its average volume of 115,023. The company has a market cap of $722.66, a price-to-earnings ratio of 79.39 and a beta of 0.96. The company has a debt-to-equity ratio of 0.71, a current ratio of 4.27 and a quick ratio of 3.04. Thermon Group has a 52-week low of $15.74 and a 52-week high of $26.50.

Thermon Group (NYSE:THR) last announced its quarterly earnings data on Thursday, February 8th. The technology company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05. The firm had revenue of $92.70 million for the quarter, compared to analyst estimates of $80.42 million. Thermon Group had a return on equity of 5.16% and a net margin of 3.33%. The business’s quarterly revenue was up 44.2% compared to the same quarter last year. During the same period last year, the company earned $0.16 EPS. equities analysts forecast that Thermon Group will post 0.61 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Janus Henderson Group PLC boosted its position in shares of Thermon Group by 5.4% in the 3rd quarter. Janus Henderson Group PLC now owns 2,702,843 shares of the technology company’s stock worth $48,624,000 after purchasing an additional 139,243 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Thermon Group by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 2,615,497 shares of the technology company’s stock worth $50,138,000 after purchasing an additional 110,975 shares during the last quarter. BlackRock Inc. boosted its position in shares of Thermon Group by 2.1% in the 4th quarter. BlackRock Inc. now owns 1,954,964 shares of the technology company’s stock worth $46,273,000 after purchasing an additional 40,154 shares during the last quarter. Eagle Asset Management Inc. boosted its position in shares of Thermon Group by 8.0% in the 4th quarter. Eagle Asset Management Inc. now owns 1,769,055 shares of the technology company’s stock worth $41,684,000 after purchasing an additional 130,383 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Thermon Group by 9.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,665,337 shares of the technology company’s stock worth $29,960,000 after purchasing an additional 148,173 shares during the last quarter.

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About Thermon Group

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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