Thermon Group (NYSE:THR) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Thermon Group (NYSE:THR) from a buy rating to a hold rating in a research report sent to investors on Tuesday, December 26th.

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. “

Several other equities research analysts have also recently weighed in on THR. BMO Capital Markets boosted their price target on shares of Thermon Group from $21.00 to $24.00 and gave the stock an outperform rating in a research report on Thursday, October 5th. Jefferies Group restated a buy rating and issued a $25.00 price target (up previously from $21.00) on shares of Thermon Group in a research report on Friday, October 6th. TheStreet upgraded shares of Thermon Group from a c rating to a b- rating in a research report on Monday, October 23rd. William Blair upgraded shares of Thermon Group from a market perform rating to an outperform rating in a research report on Wednesday, November 29th. Finally, SunTrust Banks restated a hold rating and issued a $20.00 price target on shares of Thermon Group in a research report on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $24.25.

Thermon Group (THR) opened at $24.50 on Tuesday. Thermon Group has a 1-year low of $15.74 and a 1-year high of $26.50. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.73 and a quick ratio of 2.95. The company has a market cap of $794.78, a price-to-earnings ratio of 58.33 and a beta of 1.05.

Thermon Group (NYSE:THR) last released its earnings results on Monday, October 23rd. The technology company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. Thermon Group had a net margin of 8.24% and a return on equity of 5.97%. The firm had revenue of $61.63 million for the quarter, compared to the consensus estimate of $61.64 million. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. research analysts expect that Thermon Group will post 0.49 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC increased its position in Thermon Group by 5.4% during the third quarter. Janus Henderson Group PLC now owns 2,702,843 shares of the technology company’s stock valued at $48,624,000 after acquiring an additional 139,243 shares during the last quarter. Vanguard Group Inc. increased its position in Thermon Group by 4.4% during the second quarter. Vanguard Group Inc. now owns 2,615,497 shares of the technology company’s stock valued at $50,138,000 after acquiring an additional 110,975 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Thermon Group by 9.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,665,337 shares of the technology company’s stock valued at $29,960,000 after acquiring an additional 148,173 shares during the last quarter. American Century Companies Inc. increased its position in Thermon Group by 93.3% during the third quarter. American Century Companies Inc. now owns 673,701 shares of the technology company’s stock valued at $12,120,000 after acquiring an additional 325,206 shares during the last quarter. Finally, State Street Corp increased its position in Thermon Group by 6.6% during the second quarter. State Street Corp now owns 630,757 shares of the technology company’s stock valued at $12,092,000 after acquiring an additional 39,271 shares during the last quarter.

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About Thermon Group

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