Thermon Group (NYSE:THR) Shares Down 7.3% – Here’s Why

Shares of Thermon Group Holdings, Inc. (NYSE:THR) dropped 7.3% during trading on Thursday . The stock traded as low as $64.35 and last traded at $64.1850. Approximately 67,858 shares traded hands during trading, a decline of 87% from the average daily volume of 539,437 shares. The stock had previously closed at $69.21.

Analyst Upgrades and Downgrades

THR has been the topic of several research analyst reports. Wall Street Zen cut shares of Thermon Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 1st. CJS Securities cut shares of Thermon Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 25th. Roth Mkm cut shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Zacks Research cut shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, William Blair cut shares of Thermon Group from an “outperform” rating to a “hold” rating in a research report on Wednesday, February 25th. Six research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $57.00.

Thermon Group Stock Down 7.9%

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 stock’s fifty day simple moving average is $57.40 and its 200-day simple moving average is $47.37. The stock has a market cap of $2.10 billion, a P/E ratio of 47.50 and a beta of 0.83.

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

Institutional Investors Weigh In On Thermon Group

Several large investors have recently made changes to their positions in THR. Canada Pension Plan Investment Board acquired a new stake in shares of Thermon Group in the second quarter valued at approximately $31,000. Assetmark Inc. increased its stake 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 purchasing an additional 620 shares during the period. Danske Bank A S acquired a new stake in shares of Thermon Group in the third quarter valued at approximately $45,000. Federated Hermes Inc. increased its stake 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 purchasing an additional 409 shares during the period. Finally, NewEdge Advisors LLC acquired a new stake in shares of Thermon Group in the third quarter valued at approximately $83,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

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.