Thermon Group Holdings, Inc. (NYSE:THR) Receives $57.00 Consensus Target Price from Brokerages

Thermon Group Holdings, Inc. (NYSE:THR) has received an average rating of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $57.00.

A number of research analysts recently issued reports on the stock. Craig Hallum downgraded shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Roth Mkm downgraded shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Zacks Research downgraded shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. CJS Securities downgraded shares of Thermon Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 25th. Finally, William Blair downgraded shares of Thermon Group from an “outperform” rating to a “hold” rating in a research report on Wednesday, February 25th.

Thermon Group Trading Down 5.0%

NYSE THR opened at $65.15 on Monday. The company has a market capitalization of $2.14 billion, a PE ratio of 37.02 and a beta of 0.83. The company has a fifty day moving average of $54.21 and a 200 day moving average of $45.15. Thermon Group has a 1 year low of $23.86 and a 1 year high of $71.24. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.90 and a quick ratio of 1.84.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of THR. Canada Pension Plan Investment Board acquired a new position in shares of Thermon Group in the second quarter worth about $31,000. Assetmark Inc. raised its position in shares of Thermon Group by 68.1% in the third quarter. Assetmark Inc. now owns 1,530 shares of the technology company’s stock worth $41,000 after acquiring an additional 620 shares during the period. Danske Bank A S acquired a new position in shares of Thermon Group in the third quarter worth about $45,000. State of Alaska Department of Revenue acquired a new position in shares of Thermon Group in the third quarter worth about $48,000. Finally, Federated Hermes Inc. raised its position in shares of Thermon Group by 18.5% in the third quarter. Federated Hermes Inc. now owns 2,615 shares of the technology company’s stock worth $70,000 after acquiring an additional 409 shares during the period. Institutional investors and hedge funds own 99.76% of the company’s stock.

Thermon Group Company Profile

Thermon Group, Inc (NYSE: THR) is a global provider of engineered thermal solutions designed to maintain process temperatures, prevent freezing and improve energy efficiency across industrial, commercial and power generation applications. The company specializes in the design, manufacture, installation and service of heat tracing systems, insulation and protective coatings for pipelines, tanks, vessels and other critical equipment.

Thermon’s core offerings include electric heat tracing, steam tracing, custom-engineered control panels, monitoring systems and advanced sensor technologies.