Thermon Group (NYSE:THR) Reaches New 52-Week High – Here’s Why

Thermon Group Holdings, Inc. (NYSE:THR)’s share price hit a new 52-week high on Tuesday . The company traded as high as $71.68 and last traded at $71.54, with a volume of 465812 shares. The stock had previously closed at $65.71.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on THR shares. Roth Mkm lowered Thermon Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. CJS Securities cut Thermon Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 25th. Wall Street Zen downgraded shares of Thermon Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 1st. William Blair lowered shares of Thermon Group from an “outperform” rating to a “hold” rating in a research report on Wednesday, February 25th. Finally, Zacks Research cut shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Thermon Group currently has a consensus rating of “Hold” and an average target price of $57.00.

Thermon Group Stock Performance

The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 53.39 and a beta of 0.83. The company has a 50-day moving average price of $56.48 and a 200-day moving average price of $46.82. The company has a quick ratio of 1.84, a current ratio of 2.90 and a debt-to-equity ratio of 0.25.

Thermon Group (NYSE:THR) last posted its earnings results on Tuesday, May 19th. The technology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). Thermon Group had a net margin of 8.31% and a return on equity of 13.53%. The business had revenue of $148.33 million during the quarter, compared to analyst estimates of $137.85 million. During the same quarter in the prior year, the business earned $0.56 earnings per share. The firm’s revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts forecast that Thermon Group Holdings, Inc. will post 2.27 earnings per share for the current year.

Institutional Trading of Thermon Group

Hedge funds and other institutional investors have recently modified their holdings of the company. GW&K Investment Management LLC lifted its holdings in shares of Thermon Group by 13.8% in the fourth quarter. GW&K Investment Management LLC now owns 1,627,257 shares of the technology company’s stock valued at $60,469,000 after buying an additional 197,715 shares during the period. Medina Value Partners LLC grew its holdings in Thermon Group by 5.7% during the fourth quarter. Medina Value Partners LLC now owns 1,043,526 shares of the technology company’s stock worth $38,777,000 after acquiring an additional 56,361 shares during the period. Harvey Partners LLC raised its position in Thermon Group by 20.6% in the third quarter. Harvey Partners LLC now owns 771,500 shares of the technology company’s stock worth $20,614,000 after acquiring an additional 131,769 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Thermon Group by 33.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 679,685 shares of the technology company’s stock worth $34,256,000 after acquiring an additional 171,346 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in Thermon Group by 5.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 492,782 shares of the technology company’s stock valued at $13,167,000 after acquiring an additional 24,998 shares during the last quarter. Institutional investors 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.