Thermon Group Holdings (THR) Expected to Announce Quarterly Sales of $97.08 Million

Wall Street analysts forecast that Thermon Group Holdings (NYSE:THR) will announce $97.08 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Thermon Group’s earnings, with the lowest sales estimate coming in at $95.97 million and the highest estimate coming in at $98.20 million. Thermon Group posted sales of $67.58 million in the same quarter last year, which suggests a positive year over year growth rate of 43.7%. The company is scheduled to report its next quarterly earnings results on Wednesday, May 23rd.

On average, analysts expect that Thermon Group will report full-year sales of $303.10 million for the current financial year, with estimates ranging from $301.99 million to $304.20 million. For the next fiscal year, analysts forecast that the firm will post sales of $375.39 million per share, with estimates ranging from $374.47 million to $376.30 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Thermon Group.

THR has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 12th. ValuEngine downgraded shares of Thermon Group from a “buy” rating to a “hold” rating in a research note on Tuesday, May 1st. TheStreet downgraded shares of Thermon Group from a “b-” rating to a “c” rating in a research note on Friday, February 9th. BMO Capital Markets upped their target price on shares of Thermon Group to $31.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Finally, Johnson Rice raised shares of Thermon Group from a “hold” rating to an “accumulate” rating and set a $29.00 target price on the stock in a research note on Thursday, April 26th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Thermon Group currently has a consensus rating of “Hold” and an average target price of $26.20.

A number of institutional investors and hedge funds have recently made changes to their positions in THR. Carillon Tower Advisers Inc. purchased a new stake in Thermon Group during the 4th quarter worth approximately $36,096,000. Deutsche Bank AG increased its position 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 valued at $13,088,000 after purchasing an additional 380,978 shares during the last quarter. WCM Investment Management CA increased its position 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 valued at $14,700,000 after purchasing an additional 376,978 shares during the last quarter. Eagle Asset Management Inc. increased its position in shares of Thermon Group by 8.0% in the 4th quarter. Eagle Asset Management Inc. now owns 1,769,055 shares of the technology company’s stock valued at $41,684,000 after purchasing an additional 130,383 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in shares of Thermon Group by 134.2% in the 4th quarter. TIAA CREF Investment Management LLC now owns 208,027 shares of the technology company’s stock valued at $4,924,000 after purchasing an additional 119,194 shares during the last quarter.

Shares of Thermon Group opened at $24.17 on Friday, MarketBeat Ratings reports. The company has a current ratio of 4.27, a quick ratio of 3.04 and a debt-to-equity ratio of 0.71. Thermon Group has a one year low of $23.41 and a one year high of $23.56. The company has a market capitalization of $754.47 million, a PE ratio of 55.98 and a beta of 0.92.

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

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