Thermon Group (NYSE:THR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

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 analysts have also recently commented on THR. BMO Capital Markets boosted their price target on Thermon Group from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 5th. Jefferies Group reissued a “buy” rating and issued a $25.00 price target (up from $21.00) on shares of Thermon Group in a report on Friday, October 6th. SunTrust Banks reissued a “hold” rating and issued a $20.00 price target on shares of Thermon Group in a report on Tuesday, October 24th. TheStreet raised Thermon Group from a “c” rating to a “b-” rating in a report on Monday, October 23rd. Finally, William Blair raised Thermon Group from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 29th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $24.25.

Thermon Group (NYSE THR) opened at $24.50 on Friday. Thermon Group has a 12-month low of $15.74 and a 12-month high of $26.50. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.95 and a current ratio of 3.73. The firm has a market capitalization of $794.78, a PE ratio of 58.33 and a beta of 1.05.

Thermon Group (NYSE:THR) last posted its quarterly earnings data on Monday, October 23rd. The technology company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.04. Thermon Group had a return on equity of 4.39% and a net margin of 5.65%. The firm had revenue of $61.63 million for the quarter, compared to analysts’ expectations of $61.64 million. During the same period in the previous year, the firm earned $0.10 EPS. The business’s quarterly revenue was down 10.4% on a year-over-year basis. sell-side analysts predict that Thermon Group will post 0.49 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of THR. Janus Henderson Group PLC purchased a new position in Thermon Group in the 2nd quarter worth approximately $49,144,000. American Century Companies Inc. lifted its holdings in Thermon Group by 93.3% in the 3rd quarter. American Century Companies Inc. now owns 673,701 shares of the technology company’s stock worth $12,120,000 after purchasing an additional 325,206 shares in the last quarter. Northern Trust Corp lifted its holdings in Thermon Group by 43.5% in the 2nd quarter. Northern Trust Corp now owns 559,499 shares of the technology company’s stock worth $10,725,000 after purchasing an additional 169,600 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Thermon Group by 9.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,665,337 shares of the technology company’s stock worth $29,960,000 after acquiring an additional 148,173 shares during the last quarter. Finally, Kempen Capital Management N.V. bought a new stake in Thermon Group in the 2nd quarter worth approximately $2,542,000.

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