Thermon Group (NYSE:THR) Issues Earnings Results

Thermon Group (NYSE:THR) announced its quarterly earnings data on Tuesday. The technology company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates 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 Stock Down 1.7%

Shares of NYSE:THR opened at $64.11 on Tuesday. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 36.42 and a beta of 0.83. 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 has a 12-month low of $23.86 and a 12-month high of $71.24. The business’s 50 day moving average is $54.56 and its 200 day moving average is $45.52.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Intech Investment Management LLC lifted its holdings in Thermon Group by 2.3% during the third quarter. Intech Investment Management LLC now owns 14,346 shares of the technology company’s stock worth $383,000 after acquiring an additional 327 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Thermon Group by 5.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 10,091 shares of the technology company’s stock worth $375,000 after purchasing an additional 525 shares during the last quarter. Legal & General Group Plc boosted its position in Thermon Group by 2.2% in the third quarter. Legal & General Group Plc now owns 38,133 shares of the technology company’s stock worth $1,019,000 after purchasing an additional 807 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Thermon Group by 0.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 240,903 shares of the technology company’s stock worth $8,952,000 after purchasing an additional 816 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Thermon Group by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,822 shares of the technology company’s stock worth $552,000 after purchasing an additional 845 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Craig Hallum cut Thermon Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Roth Mkm cut Thermon Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Zacks Research cut Thermon Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Wall Street Zen cut Thermon Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 1st. Finally, William Blair cut Thermon Group from an “outperform” rating to a “hold” rating in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Thermon Group presently has a consensus rating of “Hold” and an average target price of $57.00.

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.