Thermon Group (NYSE:THR) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Thermon Group (NYSE:THR) from a hold rating to a buy rating in a report published on Thursday, Zacks.com reports. Zacks Investment Research currently has $25.00 price target on the technology company’s stock.

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. “

Separately, ValuEngine lowered Thermon Group from a buy rating to a hold rating in a research report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $27.33.

THR opened at $22.03 on Thursday. The stock has a 50-day moving average price of $24.85 and a 200-day moving average price of $24.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.44 and a quick ratio of 2.39. The firm has a market cap of $703.34 million, a PE ratio of 18.51 and a beta of 1.45. Thermon Group has a 1 year low of $18.37 and a 1 year high of $27.95.

Thermon Group (NYSE:THR) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.09). The company had revenue of $91.70 million during the quarter, compared to analysts’ expectations of $89.35 million. Thermon Group had a return on equity of 10.42% and a net margin of 5.10%. Thermon Group’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 EPS. As a group, sell-side analysts anticipate that Thermon Group will post 1.28 EPS for the current year.

In other Thermon Group news, Director John U. Clarke acquired 5,000 shares of Thermon Group stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average cost of $21.47 per share, for a total transaction of $107,350.00. Following the acquisition, the director now owns 5,917 shares of the company’s stock, valued at $127,037.99. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Der Salm Johannes Rene Van sold 2,905 shares of Thermon Group stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $25.68, for a total value of $74,600.40. The disclosure for this sale can be found here. In the last ninety days, insiders bought 7,606 shares of company stock valued at $165,530 and sold 14,527 shares valued at $355,795. 1.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Thermon Group by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,933,377 shares of the technology company’s stock worth $75,241,000 after buying an additional 16,006 shares in the last quarter. BlackRock Inc. increased its holdings in Thermon Group by 31.2% in the 2nd quarter. BlackRock Inc. now owns 2,846,128 shares of the technology company’s stock worth $73,005,000 after buying an additional 676,258 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Thermon Group by 8.5% in the 2nd quarter. Janus Henderson Group PLC now owns 1,792,591 shares of the technology company’s stock worth $45,980,000 after buying an additional 140,327 shares in the last quarter. Northern Trust Corp increased its holdings in Thermon Group by 2.2% in the 2nd quarter. Northern Trust Corp now owns 716,546 shares of the technology company’s stock worth $18,379,000 after buying an additional 15,609 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Thermon Group by 6.9% in the 2nd quarter. Bank of America Corp DE now owns 551,137 shares of the technology company’s stock worth $14,136,000 after buying an additional 35,567 shares in the last quarter.

About Thermon Group

Thermon Group Holdings, Inc provides thermal engineered industrial process heating solutions for process industries in the United States, Canada, Europe, and Asia. Its products include various electric heat tracing cables, steam tracing components, tubing bundles, and instrument and control products, as well as complementary product lines.

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