Thermon Group (NYSE:THR) Sets New 1-Year High – Here’s Why

Shares of Thermon Group Holdings, Inc. (NYSE:THR) hit a new 52-week high on Tuesday . The company traded as high as $71.68 and last traded at $71.54, with a volume of 465812 shares. The stock had previously closed at $65.71.

Analyst Ratings Changes

A number of analysts have commented on the company. Weiss Ratings downgraded Thermon Group from a “buy (b)” rating to a “hold (c)” rating in a research report on Tuesday. CJS Securities cut Thermon Group from an “outperform” rating to a “market perform” 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. Craig Hallum cut Thermon Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Finally, Roth Mkm cut Thermon Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Six equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $57.00.

Thermon Group Trading Down 3.2%

The company has a debt-to-equity ratio of 0.25, a current ratio of 2.69 and a quick ratio of 1.76. The business has a 50-day moving average price of $57.75 and a two-hundred day moving average price of $47.60. The firm has a market cap of $2.21 billion, a PE ratio of 49.99 and a beta of 0.83.

Thermon Group (NYSE:THR) last issued its quarterly earnings data on Tuesday, May 19th. The technology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). Thermon Group had a net margin of 8.31% and a return on equity of 13.42%. The company had revenue of $148.33 million during the quarter, compared to analysts’ expectations of $137.85 million. During the same quarter in the prior year, the company earned $0.56 earnings per share. The firm’s revenue was up 10.6% compared to the same quarter last year. Analysts forecast that Thermon Group Holdings, Inc. will post 2.27 EPS for the current year.

Institutional Trading of Thermon Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC lifted its position in shares of Thermon Group by 2.3% in the third quarter. Intech Investment Management LLC now owns 14,346 shares of the technology company’s stock valued at $383,000 after acquiring an additional 327 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Thermon Group by 18.5% in the third quarter. Federated Hermes Inc. now owns 2,615 shares of the technology company’s stock valued at $70,000 after acquiring an additional 409 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of 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 valued at $375,000 after acquiring an additional 525 shares in the last quarter. Assetmark Inc. lifted its position in shares of Thermon Group by 68.1% in the third quarter. Assetmark Inc. now owns 1,530 shares of the technology company’s stock valued at $41,000 after acquiring an additional 620 shares in the last quarter. Finally, Riverpoint Wealth Management Holdings LLC lifted its position in shares of Thermon Group by 1.4% in the first quarter. Riverpoint Wealth Management Holdings LLC now owns 52,108 shares of the technology company’s stock valued at $2,626,000 after acquiring an additional 740 shares in the last quarter. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Thermon Group Company Profile

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.