Zacks Investment Research Lowers Thermon Group (THR) to Hold

Zacks Investment Research cut shares of Thermon Group (NYSE:THR) from a buy rating to a hold rating in a report released 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. “

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

Shares of Thermon Group (NYSE:THR) opened at $24.17 on Friday. Thermon Group has a 12 month low of $15.74 and a 12 month high of $26.50. The company has a current ratio of 3.73, a quick ratio of 2.95 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $783.10, a P/E ratio of 57.55 and a beta of 1.05.

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

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

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