SunTrust Banks Brokers Lift Earnings Estimates for Thermon Group Holdings Inc (THR)

Thermon Group Holdings Inc (NYSE:THR) – Equities research analysts at SunTrust Banks lifted their FY2018 EPS estimates for shares of Thermon Group in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst C. Brady now forecasts that the technology company will post earnings per share of $0.53 for the year, up from their prior estimate of $0.49. SunTrust Banks has a “Hold” rating and a $20.00 price objective on the stock. SunTrust Banks also issued estimates for Thermon Group’s FY2019 earnings at $0.77 EPS.

Thermon Group (NYSE:THR) last released its quarterly earnings results on Monday, October 23rd. The technology company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. Thermon Group had a net margin of 5.65% and a return on equity of 4.39%. The company had revenue of $61.63 million during the quarter, compared to the consensus estimate of $61.64 million. During the same period in the previous year, the business earned $0.10 earnings per share. The firm’s quarterly revenue was down 10.4% on a year-over-year basis.

A number of other equities research analysts also recently weighed in on THR. BMO Capital Markets lifted their price target on shares of Thermon Group from $21.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, October 5th. Jefferies Group reiterated a “buy” rating and issued a $25.00 price target (up from $21.00) on shares of Thermon Group in a research report on Friday, October 6th. Zacks Investment Research upgraded shares of Thermon Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 19th. TheStreet upgraded shares of Thermon Group from a “c” rating to a “b-” rating in a research report on Monday, October 23rd. Finally, William Blair upgraded shares of Thermon Group from a “market perform” rating to an “outperform” rating in a research report on Wednesday, November 29th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $24.25.

Thermon Group (NYSE THR) traded down $0.14 during midday trading on Thursday, hitting $24.50. 98,178 shares of the stock were exchanged, compared to its average volume of 128,176. The company has a current ratio of 3.73, a quick ratio of 2.95 and a debt-to-equity ratio of 0.15. Thermon Group has a 52 week low of $15.74 and a 52 week high of $26.50. The firm has a market capitalization of $794.78, a P/E ratio of 58.33 and a beta of 1.05.

A number of institutional investors and hedge funds have recently made changes to their positions in THR. Janus Henderson Group PLC acquired a new position in Thermon Group during the second quarter valued at approximately $49,144,000. American Century Companies Inc. raised 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 purchasing an additional 325,206 shares in the last quarter. Northern Trust Corp raised its position in Thermon Group by 43.5% during the second quarter. Northern Trust Corp now owns 559,499 shares of the technology company’s stock valued at $10,725,000 after purchasing an additional 169,600 shares in the last quarter. Dimensional Fund Advisors LP raised 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 purchasing an additional 148,173 shares in the last quarter. Finally, Kempen Capital Management N.V. acquired a new position in Thermon Group during the second quarter valued at approximately $2,542,000.

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About Thermon Group

Earnings History and Estimates for Thermon Group (NYSE:THR)

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