Thermon Group (NYSE:THR) Posts Earnings Results, Hits Estimates

Thermon Group (NYSE:THR) issued its earnings results on Tuesday. The technology company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55, FiscalAI reports. Thermon Group had a net margin of 11.26% and a return on equity of 13.82%. The business had revenue of $148.33 million for the quarter, compared to analyst estimates of $135.35 million. During the same period last year, the company posted $0.56 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year.

Thermon Group Stock Performance

NYSE THR traded up $0.23 on Wednesday, reaching $63.65. 23,076 shares of the company’s stock traded hands, compared to its average volume of 538,873. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 36.13 and a beta of 0.83. Thermon Group has a fifty-two week low of $23.86 and a fifty-two week high of $71.24. The stock has a 50 day moving average price of $54.92 and a 200-day moving average price of $45.77. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.84 and a current ratio of 2.90.

Analysts Set New Price Targets

Several research firms have commented on THR. Roth Mkm downgraded Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. William Blair downgraded Thermon Group from an “outperform” rating to a “hold” rating in a research report on Wednesday, February 25th. Craig Hallum downgraded 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 research report on Wednesday, February 25th. Finally, Zacks Research cut shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $57.00.

Institutional Investors Weigh In On Thermon Group

A number of institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC boosted its stake in Thermon Group by 960.3% during the 4th quarter. Janus Henderson Group PLC now owns 250,813 shares of the technology company’s stock worth $9,320,000 after purchasing an additional 227,157 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Thermon Group by 445.3% during the 4th quarter. Invesco Ltd. now owns 273,068 shares of the technology company’s stock worth $10,147,000 after acquiring an additional 222,990 shares during the period. UBS Group AG boosted its position in shares of Thermon Group by 287.4% during the 3rd quarter. UBS Group AG now owns 288,370 shares of the technology company’s stock valued at $7,705,000 after acquiring an additional 213,935 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Thermon Group in the third quarter valued at about $4,381,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Thermon Group during the 2nd quarter worth approximately $4,487,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

About Thermon Group

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.