Thermon Group (NYSE:THR) Given “Hold” Rating at Evercore ISI

Evercore ISI reaffirmed their hold rating on shares of Thermon Group (NYSE:THR) in a research report sent to investors on Wednesday, AnalystRatings.com reports. The brokerage currently has a $28.00 price objective on the technology company’s stock.

Several other brokerages also recently issued reports on THR. Zacks Investment Research downgraded shares of Thermon Group from a buy rating to a hold rating in a research report on Friday, August 16th. ValuEngine downgraded shares of Thermon Group from a buy rating to a hold rating in a research report on Thursday, October 31st.

NYSE THR traded up $0.21 on Wednesday, hitting $26.22. 113,881 shares of the company were exchanged, compared to its average volume of 94,796. The firm has a 50 day moving average of $23.79 and a two-hundred day moving average of $24.03. The company has a market cap of $851.85 million, a P/E ratio of 22.42 and a beta of 1.45. The company has a current ratio of 3.41, a quick ratio of 2.46 and a debt-to-equity ratio of 0.57. Thermon Group has a 1-year low of $18.37 and a 1-year high of $27.73.

Thermon Group (NYSE:THR) last issued its quarterly earnings results on Tuesday, November 5th. The technology company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.10. The business had revenue of $102.90 million for the quarter, compared to the consensus estimate of $92.24 million. Thermon Group had a net margin of 5.81% and a return on equity of 10.91%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 EPS. Research analysts anticipate that Thermon Group will post 1.35 EPS for the current fiscal year.

In other Thermon Group news, SVP James Pribble bought 1,400 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $21.35 per share, for a total transaction of $29,890.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.40% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Thermon Group by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 2,933,377 shares of the technology company’s stock valued at $75,241,000 after purchasing an additional 16,006 shares during the period. BlackRock Inc. lifted its position in Thermon Group by 31.2% during the 2nd quarter. BlackRock Inc. now owns 2,846,128 shares of the technology company’s stock valued at $73,005,000 after purchasing an additional 676,258 shares during the period. Janus Henderson Group PLC increased its stake in shares of Thermon Group by 8.5% in the 2nd quarter. Janus Henderson Group PLC now owns 1,792,591 shares of the technology company’s stock valued at $45,980,000 after acquiring an additional 140,327 shares during the last quarter. Northern Trust Corp increased its stake in shares of Thermon Group by 2.2% in the 2nd quarter. Northern Trust Corp now owns 716,546 shares of the technology company’s stock valued at $18,379,000 after acquiring an additional 15,609 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Thermon Group by 6.9% in the 2nd quarter. Bank of America Corp DE now owns 551,137 shares of the technology company’s stock valued at $14,136,000 after acquiring an additional 35,567 shares during the last quarter.

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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