Thermon Group (THR) Price Target Lowered to $29.00 at BMO Capital Markets

Thermon Group (NYSE:THR) had its target price trimmed by BMO Capital Markets from $31.00 to $29.00 in a research report sent to investors on Friday morning. The brokerage currently has an outperform rating on the technology company’s stock.

A number of other research analysts have also recently commented on THR. Zacks Investment Research raised Thermon Group from a sell rating to a hold rating in a research note on Wednesday, August 1st. SunTrust Banks reaffirmed a hold rating and set a $26.00 target price on shares of Thermon Group in a research note on Tuesday, August 7th. Finally, ValuEngine cut Thermon Group from a buy rating to a hold rating in a research note on Thursday, November 1st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $28.50.

THR opened at $22.24 on Friday. The company has a market cap of $721.22 million, a PE ratio of 22.46 and a beta of 1.23. Thermon Group has a one year low of $20.49 and a one year high of $27.95. The company has a current ratio of 3.93, a quick ratio of 2.66 and a debt-to-equity ratio of 0.64.

Thermon Group (NYSE:THR) last released its earnings results on Wednesday, October 31st. The technology company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). The business had revenue of $90.15 million for the quarter, compared to the consensus estimate of $87.25 million. Thermon Group had a net margin of 4.19% and a return on equity of 9.55%. The company’s quarterly revenue was up 46.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.22 EPS. As a group, equities research analysts predict that Thermon Group will post 1.25 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. Citadel Advisors LLC grew its stake in Thermon Group by 33.5% in the second quarter. Citadel Advisors LLC now owns 117,923 shares of the technology company’s stock worth $2,697,000 after purchasing an additional 29,573 shares in the last quarter. Eagle Asset Management Inc. grew its stake in Thermon Group by 3.5% in the second quarter. Eagle Asset Management Inc. now owns 1,899,170 shares of the technology company’s stock worth $43,434,000 after purchasing an additional 64,894 shares in the last quarter. Millennium Management LLC grew its stake in Thermon Group by 540.3% in the second quarter. Millennium Management LLC now owns 278,719 shares of the technology company’s stock worth $6,374,000 after purchasing an additional 235,188 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake 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 worth $4,113,000 after purchasing an additional 9,593 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in Thermon Group by 34.7% in the second quarter. California Public Employees Retirement System now owns 74,961 shares of the technology company’s stock worth $1,714,000 after purchasing an additional 19,306 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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