Thermon Group (NYSE:THR) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Thermon Group (NYSE:THR) from a buy rating to a hold rating in a research report report published on Thursday morning.

Several other analysts have also recently weighed in on THR. Roth Mkm boosted their price target on Thermon Group from $36.00 to $38.00 and gave the stock a buy rating in a report on Thursday, May 30th. CJS Securities began coverage on Thermon Group in a report on Monday, April 29th. They issued an outperform rating and a $42.00 target price on the stock.

Thermon Group Price Performance

Thermon Group stock traded down $0.73 during midday trading on Thursday, reaching $28.39. The company’s stock had a trading volume of 141,367 shares, compared to its average volume of 221,094. Thermon Group has a 52 week low of $23.76 and a 52 week high of $35.93. The company has a current ratio of 2.51, a quick ratio of 1.72 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average price of $30.64 and a 200-day moving average price of $30.77. The stock has a market cap of $961.57 million, a PE ratio of 18.93 and a beta of 1.08.

Thermon Group (NYSE:THR) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.08. The company had revenue of $115.10 million for the quarter, compared to analysts’ expectations of $115.99 million. Thermon Group had a return on equity of 13.64% and a net margin of 10.43%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 earnings per share. On average, sell-side analysts predict that Thermon Group will post 1.98 EPS for the current year.

Insider Activity at Thermon Group

In related news, Director John T. Nesser III sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $33.60, for a total value of $201,600.00. Following the sale, the director now directly owns 57,315 shares in the company, valued at $1,925,784. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Thermon Group news, Director Kevin J. Mcginty sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $32.84, for a total value of $164,200.00. Following the transaction, the director now directly owns 38,109 shares of the company’s stock, valued at $1,251,499.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John T. Nesser III sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $33.60, for a total value of $201,600.00. Following the completion of the transaction, the director now directly owns 57,315 shares in the company, valued at $1,925,784. The disclosure for this sale can be found here. Insiders have sold 13,910 shares of company stock worth $462,849 over the last ninety days. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Thermon Group

Several institutional investors have recently added to or reduced their stakes in THR. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Thermon Group by 8.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,586 shares of the technology company’s stock worth $508,000 after purchasing an additional 1,238 shares during the period. Federated Hermes Inc. raised its position in shares of Thermon Group by 1.7% during the fourth quarter. Federated Hermes Inc. now owns 262,363 shares of the technology company’s stock worth $8,545,000 after purchasing an additional 4,324 shares during the period. New York State Common Retirement Fund raised its position in shares of Thermon Group by 13.9% during the fourth quarter. New York State Common Retirement Fund now owns 14,692 shares of the technology company’s stock worth $479,000 after purchasing an additional 1,796 shares during the period. AJOVista LLC acquired a new position in shares of Thermon Group during the fourth quarter worth approximately $85,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Thermon Group by 17.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 303,493 shares of the technology company’s stock worth $9,885,000 after purchasing an additional 44,321 shares during the period. 99.76% of the stock is owned by institutional investors and hedge funds.

Thermon Group Company Profile

Thermon Group Holdings, Inc provides engineered industrial process heating solutions for process industries in the United States and Latin America, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It provides heat tracing products, such as electric heat tracing cables, steam heating solutions, controls, monitoring and software, instrumentation, project services, industrial heating and filtration solutions, temporary electrical power distribution and lighting, and other products and services.