Zacks Investment Research upgraded shares of Thermon Group Holdings Inc. (NYSE:THR) from a sell rating to a hold rating in a research report released on Thursday morning.
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. “
A number of other brokerages have also recently weighed in on THR. SunTrust Banks Inc. dropped their price objective on shares of Thermon Group Holdings from $19.00 to $18.00 and set a neutral rating for the company in a research note on Thursday, August 4th. BMO Capital Markets set a $19.00 target price on shares of Thermon Group Holdings and gave the stock a hold rating in a research note on Wednesday, September 14th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Thermon Group Holdings currently has a consensus rating of Hold and a consensus price target of $19.75.
Thermon Group Holdings (NYSE:THR) traded down 1.78% during midday trading on Thursday, hitting $19.32. The stock had a trading volume of 31,275 shares. Thermon Group Holdings has a 12-month low of $13.97 and a 12-month high of $22.59. The company has a market cap of $623.21 million, a PE ratio of 29.72 and a beta of 1.09. The firm has a 50-day moving average of $18.97 and a 200-day moving average of $19.24.
Thermon Group Holdings (NYSE:THR) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.07. Thermon Group Holdings had a return on equity of 8.78% and a net margin of 7.54%. The business had revenue of $63.40 million for the quarter, compared to analysts’ expectations of $64.09 million. During the same period last year, the business earned $0.18 earnings per share. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities research analysts forecast that Thermon Group Holdings will post $0.71 EPS for the current year.
Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Thermon Group Holdings by 18.6% in the first quarter. Wellington Management Group LLP now owns 3,643,045 shares of the company’s stock worth $63,972,000 after buying an additional 572,268 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Thermon Group Holdings by 1.9% in the second quarter. Vanguard Group Inc. now owns 2,280,377 shares of the company’s stock worth $43,806,000 after buying an additional 43,177 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Thermon Group Holdings by 4.8% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,876,600 shares of the company’s stock worth $36,050,000 after buying an additional 86,575 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of Thermon Group Holdings by 2.7% in the second quarter. Macquarie Group Ltd. now owns 1,356,778 shares of the company’s stock worth $26,064,000 after buying an additional 35,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Thermon Group Holdings by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,113,553 shares of the company’s stock worth $21,391,000 after buying an additional 89,251 shares in the last quarter.
About Thermon Group Holdings