Thermon Group Holdings, Inc. (NYSE:THR) was downgraded by investment analysts at Wolfe Research from a “market perform” rating to an “underperform” rating in a report issued on Friday, The Fly reports.

A number of other brokerages have also recently issued reports on THR. BMO Capital Markets cut their price objective on Thermon Group Holdings from $23.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, August 3rd. BidaskClub cut Thermon Group Holdings from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research cut Thermon Group Holdings from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. ValuEngine raised Thermon Group Holdings from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $22.00 price objective (up from $21.00) on shares of Thermon Group Holdings in a report on Sunday, May 28th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $21.50.

Thermon Group Holdings (NYSE THR) traded down 2.42% during trading on Friday, hitting $16.12. 109,584 shares of the stock traded hands. Thermon Group Holdings has a one year low of $15.74 and a one year high of $21.48. The company has a 50-day moving average price of $18.08 and a 200 day moving average price of $19.46. The stock has a market cap of $522.32 million, a PE ratio of 42.53 and a beta of 0.98.

Thermon Group Holdings (NYSE:THR) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.04. The company had revenue of $51.70 million for the quarter, compared to the consensus estimate of $58.35 million. Thermon Group Holdings had a net margin of 4.99% and a return on equity of 3.88%. The firm’s revenue was down 18.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.08 earnings per share. Analysts expect that Thermon Group Holdings will post $0.43 earnings per share for the current year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. raised its stake in shares of Thermon Group Holdings by 7.1% in the first quarter. American International Group Inc. now owns 19,705 shares of the technology company’s stock worth $411,000 after buying an additional 1,313 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Thermon Group Holdings by 32.5% in the first quarter. Victory Capital Management Inc. now owns 6,719 shares of the technology company’s stock worth $140,000 after buying an additional 1,647 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Thermon Group Holdings during the first quarter worth approximately $109,000. Parametric Portfolio Associates LLC raised its stake in shares of Thermon Group Holdings by 2.9% in the first quarter. Parametric Portfolio Associates LLC now owns 31,131 shares of the technology company’s stock worth $649,000 after buying an additional 867 shares during the last quarter. Finally, Pax World Management LLC raised its stake in shares of Thermon Group Holdings by 1.0% in the first quarter. Pax World Management LLC now owns 641,232 shares of the technology company’s stock worth $13,363,000 after buying an additional 6,232 shares during the last quarter.

Thermon Group Holdings Company Profile

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