Zacks Investment Research upgraded shares of Thermon Group (NYSE:THR) from a hold rating to a buy rating in a report published on Tuesday morning. They currently have $26.00 price objective 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. “
Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets upped their price objective on shares of Thermon Group to $31.00 and gave the company an outperform rating in a research note on Friday, February 9th. TheStreet cut shares of Thermon Group from a b- rating to a c rating in a research note on Friday, February 9th. Finally, William Blair raised shares of Thermon Group from a market perform rating to an outperform rating in a research note on Wednesday, November 29th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $25.50.
Thermon Group (NYSE:THR) last released its quarterly earnings results on Thursday, February 8th. The technology company reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.05. Thermon Group had a net margin of 3.33% and a return on equity of 5.16%. The business had revenue of $92.70 million during the quarter, compared to analysts’ expectations of $80.42 million. During the same quarter in the previous year, the company earned $0.16 EPS. The business’s quarterly revenue was up 44.2% compared to the same quarter last year. sell-side analysts expect that Thermon Group will post 0.61 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its stake in shares of Thermon Group by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,052 shares of the technology company’s stock valued at $499,000 after purchasing an additional 566 shares in the last quarter. Raymond James & Associates raised its holdings in Thermon Group by 10.4% during the 4th quarter. Raymond James & Associates now owns 26,958 shares of the technology company’s stock valued at $638,000 after buying an additional 2,542 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Thermon Group by 37.1% during the 3rd quarter. Victory Capital Management Inc. now owns 10,840 shares of the technology company’s stock valued at $195,000 after buying an additional 2,936 shares during the last quarter. WCM Investment Management CA raised its holdings in Thermon Group by 1.5% during the 3rd quarter. WCM Investment Management CA now owns 244,049 shares of the technology company’s stock valued at $4,390,000 after buying an additional 3,570 shares during the last quarter. Finally, Confluence Investment Management LLC raised its holdings in Thermon Group by 1.8% during the 4th quarter. Confluence Investment Management LLC now owns 230,174 shares of the technology company’s stock valued at $5,449,000 after buying an additional 4,168 shares during the last quarter.
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About Thermon Group
Thermon Group Holdings, Inc is a provider of engineered thermal solutions for process industries. The Company operates through four segments based on four geographic countries or regions: United States, Canada, Europe and Asia. Its product portfolio includes self-regulating and power limiting heating cables, which change heat output as pipe temperature changes, as well as constant wattage heating cables; mineral insulated (MI) cable; skin effect trace heater; heat traced tube bundles for environmental gas sampling systems; heat transfer compounds and steam tracers for steam tracing solutions; control and monitoring systems for electric tracing of pipes, tanks, hoppers and instrument sampling systems; turnkey solutions that provide solutions for heat tracing, including design, optimization, installation and ongoing maintenance; products and services, such as heating, sensing, monitoring, controlling and calibration tools, and temporary electric power distribution and lighting products.
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