SunTrust Banks upgraded shares of Thermon Group (NYSE:THR) from a hold rating to a buy rating in a research note published on Thursday, MarketBeat Ratings reports. SunTrust Banks currently has $28.00 target price on the technology company’s stock, up from their previous target price of $26.00.
A number of other equities research analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Thermon Group from a hold rating to a buy rating and set a $28.00 price objective for the company in a research report on Tuesday, August 7th. BMO Capital Markets raised their price objective on shares of Thermon Group from $30.00 to $31.00 and gave the company an outperform rating in a research report on Thursday, August 2nd. Finally, ValuEngine downgraded shares of Thermon Group from a buy rating to a hold rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $28.50.
Shares of NYSE:THR opened at $22.15 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.93 and a quick ratio of 2.66. The stock has a market capitalization of $721.23 million, a P/E ratio of 22.37 and a beta of 1.23. Thermon Group has a 52 week low of $20.49 and a 52 week high of $27.95.
Thermon Group (NYSE:THR) last announced its quarterly earnings data on Wednesday, October 31st. The technology company reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.02). The firm had revenue of $90.15 million during the quarter, compared to analyst estimates of $87.25 million. Thermon Group had a net margin of 4.19% and a return on equity of 9.55%. Thermon Group’s revenue for the quarter was up 46.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS. On average, sell-side analysts anticipate that Thermon Group will post 1.25 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. increased its holdings in Thermon Group by 15.9% in the second quarter. Victory Capital Management Inc. now owns 16,837 shares of the technology company’s stock valued at $385,000 after buying an additional 2,309 shares in the last quarter. Confluence Investment Management LLC increased its holdings in Thermon Group by 1.5% in the second quarter. Confluence Investment Management LLC now owns 239,978 shares of the technology company’s stock valued at $5,488,000 after buying an additional 3,562 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Thermon Group by 2.4% in the third quarter. Wells Fargo & Company MN now owns 151,909 shares of the technology company’s stock valued at $3,917,000 after buying an additional 3,596 shares in the last quarter. Albert D Mason Inc. purchased a new position in Thermon Group in the third quarter valued at about $216,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in Thermon Group by 5.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 179,818 shares of the technology company’s stock valued at $4,113,000 after buying an additional 9,593 shares in the last quarter.
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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