Several other equities analysts have also recently issued reports on THR. TheStreet upgraded Thermon Group from a c+ rating to a b+ rating in a research report on Monday, March 4th. Zacks Investment Research upgraded Thermon Group from a hold rating to a buy rating and set a $28.00 price target on the stock in a research report on Wednesday, April 3rd. Four investment analysts have rated the stock with a buy rating, The company presently has an average rating of Buy and an average target price of $28.00.
Shares of Thermon Group stock opened at $25.39 on Friday. The firm’s fifty day simple moving average is $24.36. The company has a quick ratio of 2.39, a current ratio of 3.28 and a debt-to-equity ratio of 0.57. The company has a market cap of $855.72 million, a P/E ratio of 21.34 and a beta of 1.41. Thermon Group has a 1-year low of $18.37 and a 1-year high of $27.95.
Thermon Group (NYSE:THR) last announced its earnings results on Thursday, June 6th. The technology company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). The business had revenue of $114.20 million for the quarter, compared to the consensus estimate of $101.74 million. Thermon Group had a net margin of 5.51% and a return on equity of 11.46%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 EPS. Equities research analysts predict that Thermon Group will post 1.37 earnings per share for the current year.
In other news, SVP Der Salm Johannes Rene Van sold 8,716 shares of Thermon Group stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $23.90, for a total transaction of $208,312.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of THR. Jennison Associates LLC acquired a new position in shares of Thermon Group in the 4th quarter worth $8,865,000. WCM Investment Management LLC grew its holdings in shares of Thermon Group by 68.9% in the 1st quarter. WCM Investment Management LLC now owns 543,728 shares of the technology company’s stock worth $13,327,000 after acquiring an additional 221,819 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Thermon Group by 33.7% in the 4th quarter. Bank of America Corp DE now owns 534,337 shares of the technology company’s stock worth $10,837,000 after acquiring an additional 134,564 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Thermon Group by 3.3% in the 4th quarter. BlackRock Inc. now owns 2,210,775 shares of the technology company’s stock worth $44,836,000 after acquiring an additional 70,482 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Thermon Group in the 1st quarter worth $817,000.
About Thermon Group
Thermon Group Holdings, Inc provides thermal engineered industrial process heating solutions for process industries in the United States, Canada, Europe, and Asia. Its products include various electric heat tracing cables, steam tracing components, tubing bundles, and instrument and control products, as well as complementary product lines.
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