Thermon Group (NYSE:THR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage currently has a $25.00 price target on the technology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.86% from the company’s current price.
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. “
THR has been the subject of several other reports. TheStreet lowered shares of Thermon Group from a “b-” rating to a “c” rating in a research note on Friday, February 9th. BMO Capital Markets increased their target price on shares of Thermon Group to $31.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. William Blair raised shares of Thermon Group from a “market perform” rating to an “outperform” rating in a research note on Wednesday, November 29th. Finally, SunTrust Banks reissued a “hold” rating and set a $20.00 target price on shares of Thermon Group in a research note on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Thermon Group has an average rating of “Hold” and a consensus target price of $25.25.
Shares of Thermon Group (NYSE THR) traded up $0.09 during trading hours on Wednesday, hitting $22.35. 72,736 shares of the stock were exchanged, compared to its average volume of 114,209. The firm has a market cap of $718.11, a price-to-earnings ratio of 79.82 and a beta of 0.96. Thermon Group has a 12 month low of $15.74 and a 12 month high of $26.50. The company has a current ratio of 4.27, a quick ratio of 3.04 and a debt-to-equity ratio of 0.71.
Thermon Group (NYSE:THR) last issued its quarterly earnings results on Thursday, February 8th. The technology company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $92.70 million during the quarter, compared to analyst estimates of $80.42 million. Thermon Group had a net margin of 3.33% and a return on equity of 5.16%. The business’s revenue for the quarter was up 44.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 EPS. equities analysts forecast that Thermon Group will post 0.62 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Thermon Group during the third quarter valued at approximately $144,000. Victory Capital Management Inc. grew its position in Thermon Group by 37.1% in the third quarter. Victory Capital Management Inc. now owns 10,840 shares of the technology company’s stock worth $195,000 after acquiring an additional 2,936 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Thermon Group in the fourth quarter worth approximately $210,000. Aperio Group LLC bought a new stake in Thermon Group in the fourth quarter worth approximately $230,000. Finally, Nisa Investment Advisors LLC grew its position in Thermon Group by 87.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 10,480 shares of the technology company’s stock worth $248,000 after acquiring an additional 4,900 shares in 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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