Thermon Group Holdings Inc. (THR) Lifted to Hold at Zacks Investment Research
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. “
Other equities analysts have also recently issued research reports about the stock. SunTrust Banks Inc. dropped their price target on shares of Thermon Group Holdings from $19.00 to $18.00 and set a neutral rating on the stock in a research note on Thursday, August 4th. BMO Capital Markets set a $19.00 target price on Thermon Group Holdings and gave the stock a hold rating in a research report on Wednesday, September 14th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $19.75.
Thermon Group Holdings (NYSE:THR) opened at 19.49 on Thursday. The stock has a 50 day moving average of $18.95 and a 200-day moving average of $19.28. The company has a market capitalization of $628.69 million, a price-to-earnings ratio of 29.98 and a beta of 1.09. Thermon Group Holdings has a 52-week low of $13.97 and a 52-week high of $22.42.
Thermon Group Holdings (NYSE:THR) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.07. The firm earned $63.40 million during the quarter, compared to the consensus estimate of $64.09 million. Thermon Group Holdings had a return on equity of 8.78% and a net margin of 7.54%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.18 EPS. On average, equities research analysts anticipate that Thermon Group Holdings will post $0.71 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its position in shares of Thermon Group Holdings by 0.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 20,460 shares of the company’s stock worth $393,000 after buying an additional 127 shares during the period. Nationwide Fund Advisors raised its stake in Thermon Group Holdings by 1.7% in the second quarter. Nationwide Fund Advisors now owns 24,358 shares of the company’s stock valued at $468,000 after buying an additional 398 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Thermon Group Holdings by 8.9% in the second quarter. Nisa Investment Advisors LLC now owns 6,100 shares of the company’s stock valued at $117,000 after buying an additional 500 shares during the last quarter. Swiss National Bank raised its stake in Thermon Group Holdings by 1.9% in the second quarter. Swiss National Bank now owns 53,400 shares of the company’s stock valued at $1,026,000 after buying an additional 1,000 shares during the last quarter. Finally, BlackRock Advisors LLC raised its stake in Thermon Group Holdings by 7.2% in the second quarter. BlackRock Advisors LLC now owns 16,070 shares of the company’s stock valued at $309,000 after buying an additional 1,083 shares during the last quarter.
Thermon Group Holdings Company Profile
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