Zacks Investment Research downgraded shares of Thermon Group (NYSE:THR) from a buy rating to a hold rating in a report published on Saturday.

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 equities research analysts have also issued reports on the company. SunTrust Banks reiterated a hold rating and set a $20.00 price target on shares of Thermon Group in a report on Tuesday, October 24th. William Blair upgraded Thermon Group from a market perform rating to an outperform rating in a report on Wednesday, November 29th. BMO Capital Markets lifted their price target on Thermon Group from $24.00 to $25.00 and gave the company an outperform rating in a report on Tuesday, October 24th. TheStreet upgraded Thermon Group from a c rating to a b- rating in a report on Monday, October 23rd. Finally, Jefferies Group reiterated a buy rating and set a $25.00 price target (up from $21.00) on shares of Thermon Group in a report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Thermon Group presently has an average rating of Hold and a consensus target price of $24.25.

Shares of Thermon Group (NYSE:THR) opened at $24.50 on Friday. The stock has a market capitalization of $794.78, a PE ratio of 58.33 and a beta of 1.05. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.95 and a current ratio of 3.73. Thermon Group has a 1-year low of $15.74 and a 1-year high of $26.50.

Thermon Group (NYSE:THR) last announced its quarterly earnings results on Monday, October 23rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.04. The business had revenue of $61.63 million during the quarter, compared to analyst estimates of $61.64 million. Thermon Group had a return on equity of 4.39% and a net margin of 5.65%. The firm’s revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 EPS. sell-side analysts anticipate that Thermon Group will post 0.49 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its holdings in Thermon Group by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 7,904 shares of the technology company’s stock worth $152,000 after purchasing an additional 1,185 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Thermon Group in the 3rd quarter worth approximately $144,000. Legal & General Group Plc lifted its holdings in Thermon Group by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 8,143 shares of the technology company’s stock worth $155,000 after purchasing an additional 320 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Thermon Group by 87.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 10,480 shares of the technology company’s stock worth $248,000 after purchasing an additional 4,900 shares during the last quarter. Finally, M&T Bank Corp lifted its holdings in Thermon Group by 0.8% in the 2nd quarter. M&T Bank Corp now owns 12,062 shares of the technology company’s stock worth $232,000 after purchasing an additional 99 shares during the last quarter.

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