Thermon Group (NYSE:THR) Research Coverage Started at Craig Hallum

Craig Hallum assumed coverage on shares of Thermon Group (NYSE:THR) in a research note issued to investors on Monday morning, MarketBeat reports. The brokerage issued a buy rating and a $60.00 price objective on the technology company’s stock.

Other analysts also recently issued reports about the company. Wall Street Zen raised Thermon Group from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 16th. Weiss Ratings restated a “buy (b-)” rating on shares of Thermon Group in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $57.00.

Thermon Group Price Performance

NYSE:THR opened at $46.02 on Monday. The company has a current ratio of 2.82, a quick ratio of 1.74 and a debt-to-equity ratio of 0.26. Thermon Group has a 12 month low of $23.05 and a 12 month high of $49.61. The firm has a market cap of $1.51 billion, a P/E ratio of 26.30 and a beta of 0.78. The stock has a 50 day moving average of $39.82 and a two-hundred day moving average of $32.14.

Thermon Group (NYSE:THR) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.19. The company had revenue of $131.72 million during the quarter, compared to analysts’ expectations of $119.43 million. Thermon Group had a net margin of 11.60% and a return on equity of 13.58%. Thermon Group’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.38 EPS. On average, analysts expect that Thermon Group will post 1.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Thermon Group

Several institutional investors have recently modified their holdings of the company. Bailard Inc. purchased a new stake in Thermon Group during the 4th quarter worth about $290,000. First Eagle Investment Management LLC raised its holdings in shares of Thermon Group by 2.2% in the fourth quarter. First Eagle Investment Management LLC now owns 400,510 shares of the technology company’s stock valued at $14,883,000 after buying an additional 8,532 shares during the last quarter. Swiss Life Asset Management Ltd acquired a new stake in Thermon Group during the 4th quarter worth approximately $220,000. Denali Advisors LLC acquired a new stake in shares of Thermon Group during the fourth quarter worth $638,000. Finally, Equitable Trust Co. acquired a new stake in shares of Thermon Group in the 4th quarter worth $329,000. 99.76% of the stock is owned by hedge funds and other 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.