Thermon Group (NYSE:THR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Zacks.com reports. The brokerage presently has a $25.00 price target on the technology company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 14.36% from the company’s previous close.
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. “
Separately, ValuEngine downgraded shares of Thermon Group from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $27.33.
NYSE THR traded up $0.40 during mid-day trading on Thursday, hitting $21.86. The company’s stock had a trading volume of 955 shares, compared to its average volume of 113,289. The firm’s 50 day moving average price is $25.00. Thermon Group has a twelve month low of $18.37 and a twelve month high of $27.95. The company has a quick ratio of 2.39, a current ratio of 3.28 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $704.33 million, a price-to-earnings ratio of 18.36 and a beta of 1.45.
Thermon Group (NYSE:THR) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.09). Thermon Group had a net margin of 5.10% and a return on equity of 10.52%. The business had revenue of $91.70 million during the quarter, compared to analyst estimates of $89.35 million. During the same period in the previous year, the business posted $0.24 EPS. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, analysts predict that Thermon Group will post 1.37 earnings per share for the current fiscal year.
In related news, Director John U. Clarke acquired 5,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were acquired at an average cost of $21.47 per share, for a total transaction of $107,350.00. Following the purchase, the director now owns 5,917 shares in the company, valued at $127,037.99. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Roger L. Fix acquired 2,250 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $22.10 per share, for a total transaction of $49,725.00. Following the completion of the purchase, the director now owns 3,167 shares in the company, valued at approximately $69,990.70. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 7,606 shares of company stock worth $165,530 and have sold 14,527 shares worth $355,795. 1.40% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of THR. Vanguard Group Inc. raised its stake in Thermon Group by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,933,377 shares of the technology company’s stock valued at $75,241,000 after acquiring an additional 16,006 shares during the period. BlackRock Inc. raised its stake in Thermon Group by 31.2% in the 2nd quarter. BlackRock Inc. now owns 2,846,128 shares of the technology company’s stock valued at $73,005,000 after acquiring an additional 676,258 shares during the period. Janus Henderson Group PLC raised its stake in Thermon Group by 8.5% in the 2nd quarter. Janus Henderson Group PLC now owns 1,792,591 shares of the technology company’s stock valued at $45,980,000 after acquiring an additional 140,327 shares during the period. Northern Trust Corp raised its stake in Thermon Group by 2.2% in the 2nd quarter. Northern Trust Corp now owns 716,546 shares of the technology company’s stock valued at $18,379,000 after acquiring an additional 15,609 shares during the period. Finally, Bank of America Corp DE raised its stake in Thermon Group by 6.9% in the 2nd quarter. Bank of America Corp DE now owns 551,137 shares of the technology company’s stock valued at $14,136,000 after acquiring an additional 35,567 shares during the period.
Thermon Group Company Profile
Thermon Group Holdings, Inc provides thermal engineered industrial process heating solutions for process industries in the United States, Canada, Europe, and Asia. Its products include various electric heat tracing cables, steam tracing components, tubing bundles, and instrument and control products, as well as complementary product lines.
Read More: Trading Ex-Dividend Strategy
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Thermon Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermon Group and related companies with MarketBeat.com's FREE daily email newsletter.