Thermon Group (NYSE:THR) Issues Earnings Results, Misses Expectations By $0.01 EPS

Thermon Group (NYSE:THR) released its quarterly earnings results on Tuesday. The technology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01), FiscalAI reports. Thermon Group had a net margin of 11.26% and a return on equity of 13.82%.

Thermon Group Price Performance

Shares of THR stock opened at $64.11 on Tuesday. The firm has a market cap of $2.11 billion, a P/E ratio of 36.42 and a beta of 0.83. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.90 and a quick ratio of 1.84. Thermon Group has a 1-year low of $23.86 and a 1-year high of $71.24. The firm has a fifty day moving average of $54.56 and a two-hundred day moving average of $45.52.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC grew its holdings in Thermon Group by 2.3% during the 3rd quarter. Intech Investment Management LLC now owns 14,346 shares of the technology company’s stock worth $383,000 after acquiring an additional 327 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Thermon Group by 5.5% during the 4th 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 in the last quarter. Legal & General Group Plc grew its holdings in Thermon Group by 2.2% during the 3rd quarter. Legal & General Group Plc now owns 38,133 shares of the technology company’s stock worth $1,019,000 after acquiring an additional 807 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Thermon Group by 0.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 240,903 shares of the technology company’s stock worth $8,952,000 after acquiring an additional 816 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Thermon Group by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,822 shares of the technology company’s stock worth $552,000 after acquiring an additional 845 shares in the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.