Thermon Group (THR) Rating Lowered to Hold at ValuEngine

ValuEngine downgraded shares of Thermon Group (NYSE:THR) from a buy rating to a hold rating in a research note published on Thursday.

A number of other research firms also recently weighed in on THR. Zacks Investment Research downgraded Thermon Group from a strong-buy rating to a hold rating in a research report on Wednesday, October 10th. SunTrust Banks restated a hold rating and set a $26.00 price target on shares of Thermon Group in a research report on Tuesday, August 7th. Finally, BMO Capital Markets raised their price target on Thermon Group from $30.00 to $31.00 and gave the company an outperform rating in a research report on Thursday, August 2nd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $28.50.

Shares of THR stock opened at $22.15 on Thursday. 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 has a 52-week low of $20.49 and a 52-week high of $27.95. The firm has a market capitalization of $721.23 million, a P/E ratio of 22.37 and a beta of 1.23.

Thermon Group (NYSE:THR) last issued its quarterly earnings data on Wednesday, October 31st. The technology company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.02). Thermon Group had a return on equity of 9.55% and a net margin of 4.19%. The business had revenue of $90.15 million during the quarter, compared to analysts’ expectations of $87.25 million. During the same quarter last year, the business posted $0.22 EPS. The company’s quarterly revenue was up 46.3% on a year-over-year basis. On average, analysts predict that Thermon Group will post 1.25 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Albert D Mason Inc. purchased a new stake in Thermon Group during the third quarter valued at about $216,000. Nisa Investment Advisors LLC purchased a new stake in Thermon Group during the second quarter valued at about $235,000. Brown Advisory Inc. purchased a new stake in Thermon Group during the first quarter valued at about $287,000. Victory Capital Management Inc. grew its stake in shares of Thermon Group by 15.9% during 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 during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Thermon Group by 162.7% during the first quarter. JPMorgan Chase & Co. now owns 18,267 shares of the technology company’s stock valued at $409,000 after buying an additional 11,314 shares during the last quarter.

Thermon Group Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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