Zacks Investment Research lowered shares of Thermon Group Holdings, Inc. (NYSE:THR) from a hold rating to a sell rating in a research report report published on Saturday 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. “

Several other research firms also recently issued reports on THR. ValuEngine upgraded shares of Thermon Group Holdings from a sell rating to a hold rating in a research note on Thursday, June 29th. BidaskClub upgraded shares of Thermon Group Holdings from a hold rating to a buy rating in a research note on Thursday, July 6th. Wolfe Research assumed coverage on shares of Thermon Group Holdings in a research note on Tuesday, July 11th. They set a market perform rating for the company. Jefferies Group LLC reissued a buy rating and set a $22.00 price target (up from $21.00) on shares of Thermon Group Holdings in a report on Sunday, May 28th. Finally, BMO Capital Markets cut their price target on shares of Thermon Group Holdings from $23.00 to $21.00 and set an outperform rating for the company in a report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Thermon Group Holdings has an average rating of Hold and an average target price of $21.50.

Shares of Thermon Group Holdings (NYSE:THR) opened at 17.42 on Friday. Thermon Group Holdings has a 12 month low of $16.50 and a 12 month high of $21.48. The firm’s 50-day moving average price is $18.57 and its 200 day moving average price is $19.68. The company has a market cap of $563.89 million, a PE ratio of 45.96 and a beta of 0.98.

Thermon Group Holdings (NYSE:THR) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by $0.04. Thermon Group Holdings had a return on equity of 3.88% and a net margin of 4.99%. The company had revenue of $51.70 million for the quarter, compared to analysts’ expectations of $58.35 million. During the same period in the prior year, the company posted $0.08 EPS. The firm’s revenue was down 18.5% compared to the same quarter last year. Equities research analysts anticipate that Thermon Group Holdings will post $0.44 earnings per share for the current fiscal year.

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Several institutional investors have recently made changes to their positions in THR. Wellington Management Group LLP raised its position in Thermon Group Holdings by 0.8% in the first quarter. Wellington Management Group LLP now owns 3,630,613 shares of the technology company’s stock valued at $75,662,000 after buying an additional 30,480 shares during the last quarter. Vanguard Group Inc. increased its stake in Thermon Group Holdings by 5.1% in the first quarter. Vanguard Group Inc. now owns 2,504,522 shares of the technology company’s stock valued at $52,194,000 after buying an additional 122,623 shares during the period. Van Berkom & Associates Inc. increased its stake in Thermon Group Holdings by 0.4% in the second quarter. Van Berkom & Associates Inc. now owns 2,332,101 shares of the technology company’s stock valued at $44,706,000 after buying an additional 8,860 shares during the period. Goldman Sachs Group Inc. increased its stake in Thermon Group Holdings by 7.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,391,696 shares of the technology company’s stock valued at $29,003,000 after buying an additional 98,201 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Thermon Group Holdings by 6.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,374,231 shares of the technology company’s stock valued at $28,639,000 after buying an additional 85,212 shares during the period.

About Thermon Group Holdings

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