Thermon Group (NYSE:THR) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Thermon Group (NYSE:THR) posted its quarterly earnings results on Tuesday. The technology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01), FiscalAI reports. Thermon Group had a net margin of 11.26% and a return on equity of 13.82%.

Thermon Group Trading Down 1.7%

Shares of NYSE:THR opened at $64.11 on Tuesday. The company has a market cap of $2.11 billion, a PE ratio of 36.42 and a beta of 0.83. The company’s 50-day moving average price is $54.56 and its 200 day moving average price is $45.52. Thermon Group has a fifty-two week low of $23.86 and a fifty-two week high of $71.24. The company has a quick ratio of 1.84, a current ratio of 2.90 and a debt-to-equity ratio of 0.25.

Wall Street Analyst Weigh In

THR has been the subject of several research reports. Craig Hallum lowered shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. Zacks Research lowered shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Wall Street Zen lowered shares of Thermon Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 1st. Roth Mkm lowered shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Finally, CJS Securities lowered shares of Thermon Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 25th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $57.00.

Institutional Trading of Thermon Group

Several hedge funds have recently bought and sold shares of THR. Canada Pension Plan Investment Board bought a new stake in Thermon Group in the 2nd quarter valued at about $31,000. Danske Bank A S bought a new stake in Thermon Group in the 3rd quarter valued at about $45,000. NewEdge Advisors LLC bought a new stake in Thermon Group in the 3rd quarter valued at about $83,000. Tower Research Capital LLC TRC lifted its position in Thermon Group by 110.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,255 shares of the technology company’s stock valued at $91,000 after purchasing an additional 1,710 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Thermon Group by 62.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,236 shares of the technology company’s stock valued at $91,000 after purchasing an additional 1,245 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors.

About Thermon Group

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.