Thermon Group (NYSE:THR) Hits New 12-Month High – Should You Buy?

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on THR. CJS Securities lowered Thermon Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 25th. Craig Hallum lowered Thermon Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Wall Street Zen downgraded shares of Thermon Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 1st. Zacks Research lowered shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, William Blair cut shares of Thermon Group from an “outperform” rating to a “hold” rating in a report on Wednesday, February 25th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $57.00.

Thermon Group Price Performance

The company has a quick ratio of 1.84, a current ratio of 2.90 and a debt-to-equity ratio of 0.25. The company has a 50 day simple moving average of $56.48 and a 200-day simple moving average of $46.82. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 53.39 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 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). The firm had revenue of $148.33 million during the quarter, compared to analyst estimates of $137.85 million. Thermon Group had a return on equity of 13.53% and a net margin of 8.31%.Thermon Group’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.56 EPS. As a group, research analysts anticipate that Thermon Group Holdings, Inc. will post 2.27 EPS for the current fiscal year.

Institutional Trading of Thermon Group

Institutional investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC lifted its position in shares of Thermon Group by 2.3% in the 3rd quarter. Intech Investment Management LLC now owns 14,346 shares of the technology company’s stock worth $383,000 after buying an additional 327 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Thermon Group by 18.5% during the 3rd quarter. Federated Hermes Inc. now owns 2,615 shares of the technology company’s stock valued at $70,000 after buying an additional 409 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Thermon Group by 5.5% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 10,091 shares of the technology company’s stock worth $375,000 after acquiring an additional 525 shares during the period. Assetmark Inc. raised its stake in Thermon Group by 68.1% during the third quarter. Assetmark Inc. now owns 1,530 shares of the technology company’s stock worth $41,000 after acquiring an additional 620 shares during the period. Finally, Riverpoint Wealth Management Holdings LLC lifted its holdings in 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 worth $2,626,000 after acquiring an additional 740 shares during the last quarter. Institutional investors own 99.76% of the company’s stock.

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.