Zacks Investment Research upgraded shares of Thermon Group Holdings, Inc. (NYSE:THR) from a sell rating to a hold rating in a report released on Thursday.

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 research firms have also issued reports on THR. Wolfe Research assumed coverage on shares of Thermon Group Holdings in a research note on Tuesday, July 11th. They set a market perform rating for the company. BidaskClub raised shares of Thermon Group Holdings from a hold rating to a buy rating in a research note on Thursday, July 6th. ValuEngine raised shares of Thermon Group Holdings from a sell rating to a hold rating in a research note on Thursday, June 29th. Finally, Jefferies Group LLC reaffirmed a buy rating and issued a $22.00 price target (up from $21.00) on shares of Thermon Group Holdings in a research note on Sunday, May 28th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $21.00.

Thermon Group Holdings (THR) remained flat at $18.14 during trading on Thursday. 47,684 shares of the company’s stock were exchanged. The company has a 50-day moving average of $18.64 and a 200-day moving average of $19.68. The company has a market cap of $587.19 million, a PE ratio of 40.31 and a beta of 1.00. Thermon Group Holdings has a 52 week low of $16.50 and a 52 week high of $21.48.

Thermon Group Holdings (NYSE:THR) last posted its quarterly earnings results on Wednesday, May 24th. The technology company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.03. Thermon Group Holdings had a net margin of 5.54% and a return on equity of 4.60%. The business had revenue of $67.60 million during the quarter, compared to analyst estimates of $66.24 million. During the same period last year, the firm posted $0.20 earnings per share. The company’s quarterly revenue was down 6.5% on a year-over-year basis. Equities analysts expect that Thermon Group Holdings will post $0.45 earnings per share for the current year.

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Several hedge funds have recently added to or reduced their stakes in THR. Wellington Management Group LLP increased its stake in Thermon Group Holdings by 0.8% in the first quarter. Wellington Management Group LLP now owns 3,630,613 shares of the technology company’s stock worth $75,662,000 after buying an additional 30,480 shares during the last quarter. Vanguard Group Inc. raised its stake in Thermon Group Holdings by 5.1% in the first quarter. Vanguard Group Inc. now owns 2,504,522 shares of the technology company’s stock worth $52,194,000 after buying an additional 122,623 shares in the last quarter. Van Berkom & Associates Inc. raised its stake in Thermon Group Holdings by 0.4% in the second quarter. Van Berkom & Associates Inc. now owns 2,332,101 shares of the technology company’s stock worth $44,706,000 after buying an additional 8,860 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Thermon Group Holdings by 7.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,391,696 shares of the technology company’s stock worth $29,003,000 after buying an additional 98,201 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Thermon Group Holdings by 6.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,374,231 shares of the technology company’s stock worth $28,639,000 after buying an additional 85,212 shares in the last quarter.

About Thermon Group Holdings

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