Thermon Group (NYSE:THR) Receives “Hold” Rating from Evercore ISI

Thermon Group (NYSE:THR)‘s stock had its “hold” rating restated by investment analysts at Evercore ISI in a research note issued to investors on Wednesday, AnalystRatings.com reports. They presently have a $28.00 price target on the technology company’s stock. Evercore ISI’s price objective would suggest a potential upside of 5.90% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Thermon Group from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. ValuEngine cut shares of Thermon Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st.

Shares of NYSE:THR opened at $26.44 on Wednesday. Thermon Group has a 52 week low of $18.37 and a 52 week high of $27.73. The stock has a market capitalization of $883.29 million, a P/E ratio of 22.22 and a beta of 1.45. The firm has a fifty day simple moving average of $23.66 and a two-hundred day simple moving average of $24.03. The company has a quick ratio of 2.46, a current ratio of 3.41 and a debt-to-equity ratio of 0.57.

Thermon Group (NYSE:THR) last issued its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. Thermon Group had a net margin of 5.81% and a return on equity of 10.91%. The business had revenue of $102.90 million during the quarter, compared to analysts’ expectations of $92.24 million. During the same period last year, the company posted $0.22 EPS. The business’s revenue was up 14.1% on a year-over-year basis. On average, analysts expect that Thermon Group will post 1.35 earnings per share for the current year.

In other news, SVP James Pribble purchased 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $21.35 per share, with a total value of $29,890.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.40% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC lifted its holdings in Thermon Group by 75.1% during the 2nd quarter. Quantamental Technologies LLC now owns 2,099 shares of the technology company’s stock valued at $54,000 after buying an additional 900 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Thermon Group during the 2nd quarter valued at about $97,000. Tower Research Capital LLC TRC bought a new stake in Thermon Group during the 3rd quarter valued at about $103,000. Bank of Montreal Can lifted its holdings in Thermon Group by 134.6% during the 2nd quarter. Bank of Montreal Can now owns 4,718 shares of the technology company’s stock valued at $121,000 after buying an additional 2,707 shares in the last quarter. Finally, Panagora Asset Management Inc. bought a new stake in Thermon Group during the 2nd quarter valued at about $196,000.

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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