Zacks Investment Research lowered shares of Thermon Group (NYSE:THR) from a buy rating to a hold rating in a research report report published 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 analysts have also recently weighed in on THR. TheStreet cut shares of Thermon Group from a b- rating to a c rating in a research note on Friday, February 9th. BMO Capital Markets increased their price target on shares of Thermon Group to $31.00 and gave the stock an outperform rating in a research note on Friday, February 9th. William Blair upgraded shares of Thermon Group from a market perform rating to an outperform rating in a research note on Wednesday, November 29th. Finally, SunTrust Banks reiterated a hold rating and set a $20.00 price target on shares of Thermon Group in a research note on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $25.25.
Thermon Group (NYSE:THR) last issued its quarterly earnings results on Thursday, February 8th. The technology company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.05. The firm had revenue of $92.70 million during the quarter, compared to analysts’ expectations of $80.42 million. Thermon Group had a net margin of 3.33% and a return on equity of 5.16%. Thermon Group’s quarterly revenue was up 44.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 EPS. sell-side analysts expect that Thermon Group will post 0.61 earnings per share for the current year.
A number of large investors have recently modified their holdings of THR. Carillon Tower Advisers Inc. acquired a new stake in Thermon Group during the 4th quarter worth $36,096,000. Deutsche Bank AG lifted its stake in shares of Thermon Group by 221.4% in the 4th quarter. Deutsche Bank AG now owns 553,044 shares of the technology company’s stock worth $13,088,000 after acquiring an additional 380,978 shares during the period. WCM Investment Management CA lifted its stake in shares of Thermon Group by 154.5% in the 4th quarter. WCM Investment Management CA now owns 621,027 shares of the technology company’s stock worth $14,700,000 after acquiring an additional 376,978 shares during the period. American Century Companies Inc. lifted its stake in shares of Thermon Group by 93.3% in the 3rd quarter. American Century Companies Inc. now owns 673,701 shares of the technology company’s stock worth $12,120,000 after acquiring an additional 325,206 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Thermon Group by 43.5% in the 2nd quarter. Northern Trust Corp now owns 559,499 shares of the technology company’s stock worth $10,725,000 after acquiring an additional 169,600 shares during the period.
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Thermon Group Company Profile
Thermon Group Holdings, Inc is a provider of engineered thermal solutions for process industries. The Company operates through four segments based on four geographic countries or regions: United States, Canada, Europe and Asia. Its product portfolio includes self-regulating and power limiting heating cables, which change heat output as pipe temperature changes, as well as constant wattage heating cables; mineral insulated (MI) cable; skin effect trace heater; heat traced tube bundles for environmental gas sampling systems; heat transfer compounds and steam tracers for steam tracing solutions; control and monitoring systems for electric tracing of pipes, tanks, hoppers and instrument sampling systems; turnkey solutions that provide solutions for heat tracing, including design, optimization, installation and ongoing maintenance; products and services, such as heating, sensing, monitoring, controlling and calibration tools, and temporary electric power distribution and lighting products.
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