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

Thermon Group Holdings, Inc. (NYSE:THR)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $63.56 and last traded at $63.2180, with a volume of 1260247 shares. The stock had previously closed at $60.52.

Analysts Set New Price Targets

THR has been the topic of a number of recent research reports. CJS Securities lowered Thermon Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 25th. Craig Hallum cut shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Zacks Research downgraded shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. William Blair cut shares of Thermon Group from an “outperform” rating to a “hold” rating in a report on Wednesday, February 25th. Finally, Roth Mkm downgraded shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $57.00.

Thermon Group Price Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 2.90 and a quick ratio of 1.84. The stock has a fifty day simple moving average of $52.00 and a 200-day simple moving average of $43.36. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 39.14 and a beta of 0.83.

Thermon Group (NYSE:THR) last issued its quarterly earnings data on Thursday, February 5th. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. Thermon Group had a net margin of 11.26% and a return on equity of 13.82%. The business had revenue of $147.31 million for the quarter, compared to analysts’ expectations of $138.35 million. During the same quarter last year, the company earned $0.56 EPS. The business’s revenue was up 9.6% on a year-over-year basis. On average, equities research analysts anticipate that Thermon Group Holdings, Inc. will post 2.13 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in THR. Canada Pension Plan Investment Board purchased a new stake in shares of Thermon Group during the 2nd quarter worth about $31,000. Assetmark Inc. raised its holdings in Thermon Group by 68.1% in the 3rd quarter. Assetmark Inc. now owns 1,530 shares of the technology company’s stock worth $41,000 after purchasing an additional 620 shares during the period. Danske Bank A S purchased a new position in Thermon Group during the third quarter worth approximately $45,000. State of Alaska Department of Revenue acquired a new stake in Thermon Group in the third quarter valued at approximately $48,000. Finally, Nkcfo LLC purchased a new stake in shares of Thermon Group in the fourth quarter valued at approximately $85,000. Hedge funds and other institutional investors 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.