Thermon Group (NYSE:THR) Raised to Hold at Wall Street Zen

Thermon Group (NYSE:THR) was upgraded by equities research analysts at Wall Street Zen to a “hold” rating in a research report issued on Saturday.

A number of other brokerages also recently issued reports on THR. Craig Hallum downgraded shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. CJS Securities downgraded shares of Thermon Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 25th. Weiss Ratings downgraded shares of Thermon Group from a “buy (b)” rating to a “hold (c)” rating in a report on Tuesday. Roth Mkm downgraded shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Finally, Zacks Research downgraded shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Six analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $57.00.

Thermon Group Stock Down 8.7%

Shares of THR stock opened at $60.98 on Friday. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 45.51 and a beta of 0.83. Thermon Group has a one year low of $23.86 and a one year high of $71.87. The company’s fifty day moving average price is $58.01 and its 200-day moving average price is $47.69. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.69 and a quick ratio of 1.76.

Thermon Group (NYSE:THR) last announced its quarterly earnings data on Tuesday, May 19th. The technology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). The firm had revenue of $148.33 million for the quarter, compared to the consensus estimate of $137.85 million. Thermon Group had a net margin of 8.31% and a return on equity of 13.42%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 earnings per share. Sell-side analysts expect that Thermon Group will post 2.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Thermon Group

A number of institutional investors and hedge funds have recently made changes to their positions in THR. Canada Pension Plan Investment Board purchased a new position in shares of Thermon Group in the 2nd quarter worth $31,000. Assetmark Inc. grew its stake in shares of Thermon Group by 68.1% in the 3rd quarter. Assetmark Inc. now owns 1,530 shares of the technology company’s stock worth $41,000 after buying an additional 620 shares in the last quarter. Danske Bank A S purchased a new position in shares of Thermon Group in the 3rd quarter worth $45,000. Federated Hermes Inc. grew its stake in shares of Thermon Group by 18.5% in the 3rd quarter. Federated Hermes Inc. now owns 2,615 shares of the technology company’s stock worth $70,000 after buying an additional 409 shares in the last quarter. Finally, NewEdge Advisors LLC purchased a new position in shares of Thermon Group during the 3rd quarter worth about $83,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Thermon Group Company Profile

Thermon Group, Inc (NYSE: THR) is a global provider of engineered thermal solutions designed to maintain process temperatures, prevent freezing and improve energy efficiency across industrial, commercial and power generation applications. The company specializes in the design, manufacture, installation and service of heat tracing systems, insulation and protective coatings for pipelines, tanks, vessels and other critical equipment.

Thermon’s core offerings include electric heat tracing, steam tracing, custom-engineered control panels, monitoring systems and advanced sensor technologies.