Thermon Group Holdings Inc. (THR) Sees Unusually-High Trading Volume
Thermon Group Holdings Inc. (NYSE:THR) saw an uptick in trading volume on Monday . 171,058 shares changed hands during mid-day trading, an increase of 19% from the previous session’s volume of 143,180 shares.The stock last traded at $20.72 and had previously closed at $20.52.
A number of brokerages have recently issued reports on THR. Zacks Investment Research downgraded Thermon Group Holdings from a “buy” rating to a “hold” rating in a report on Friday, June 24th. BMO Capital Markets began coverage on Thermon Group Holdings in a report on Tuesday, April 5th. They issued a “market perform” rating and a $20.00 price target on the stock. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $20.75.
The firm has a 50-day moving average of $20.10 and a 200 day moving average of $18.06. The firm has a market cap of $668.49 million and a PE ratio of 29.21.
Thermon Group Holdings (NYSE:THR) last released its quarterly earnings results on Wednesday, May 25th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. The company had revenue of $72.30 million for the quarter, compared to analysts’ expectations of $65.26 million. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 EPS. Analysts predict that Thermon Group Holdings Inc. will post $0.85 earnings per share for the current year.
Other institutional investors recently added to or reduced their stakes in the company. Opus Capital Group LLC raised its position in Thermon Group Holdings by 178.4% in the fourth quarter. Opus Capital Group LLC now owns 136,619 shares of the company’s stock worth $2,312,000 after buying an additional 87,541 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Thermon Group Holdings by 12.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 962,765 shares of the company’s stock worth $16,290,000 after buying an additional 102,841 shares in the last quarter. Finally, Van Berkom & Associates Inc. raised its position in Thermon Group Holdings by 4.1% in the fourth quarter. Van Berkom & Associates Inc. now owns 2,206,143 shares of the company’s stock worth $37,328,000 after buying an additional 86,451 shares in the last quarter.
Thermon Group Holdings, Inc is a provider of engineered thermal solutions for process industries. The Company is a thermal solutions provider which offers a range of products, such as heating cables, tubing bundles and control systems, and services, such as design optimization, engineering, and installation and maintenance services.
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