Thermon Group (THR) Downgraded by ValuEngine

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

Several other analysts have also issued reports on THR. Zacks Investment Research upgraded shares of Thermon Group from a sell rating to a hold rating in a research note on Wednesday, August 1st. SunTrust Banks reiterated a hold rating and issued a $26.00 target price on shares of Thermon Group in a research note on Tuesday, August 7th. Finally, BMO Capital Markets upped their target price on shares of Thermon Group from $30.00 to $31.00 and gave the stock an outperform rating in a research note on Thursday, August 2nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Thermon Group has an average rating of Buy and an average target price of $28.50.

Shares of NYSE THR traded down $1.14 during trading on Thursday, hitting $22.15. The stock had a trading volume of 100,362 shares, compared to its average volume of 119,373. Thermon Group has a 12 month low of $20.49 and a 12 month high of $27.95. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.93 and a quick ratio of 2.66. The firm has a market cap of $721.23 million, a price-to-earnings ratio of 22.84 and a beta of 1.23.

Thermon Group (NYSE:THR) last posted its earnings results on Wednesday, October 31st. The technology company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $90.15 million during the quarter, compared to the consensus estimate of $87.25 million. During the same quarter in the previous year, the company earned $0.22 EPS. The business’s revenue was up 46.3% compared to the same quarter last year. On average, research analysts anticipate that Thermon Group will post 1.25 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Albert D Mason Inc. bought a new position in Thermon Group during the third quarter valued at about $216,000. Nisa Investment Advisors LLC bought a new position in Thermon Group during the second quarter valued at about $235,000. Brown Advisory Inc. bought a new position in Thermon Group during the first quarter valued at about $287,000. Victory Capital Management Inc. grew its position in 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 period. Finally, JPMorgan Chase & Co. grew its position in 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 period.

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

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