Thermon Group (NYSE:THR) Given Hold Rating at Evercore ISI

Thermon Group (NYSE:THR)‘s stock had its “hold” rating reissued by analysts at Evercore ISI in a research note issued on Wednesday, AnalystRatings.com reports. They currently have a $28.00 price objective on the technology company’s stock. Evercore ISI’s price objective would suggest a potential upside of 6.79% from the stock’s current price.

A number of other research analysts have also issued reports on the company. Zacks Investment Research lowered Thermon Group from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. ValuEngine lowered Thermon Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st.

THR stock traded up $0.21 during trading on Wednesday, reaching $26.22. 113,881 shares of the company’s stock were exchanged, compared to its average volume of 92,942. The company has a quick ratio of 2.46, a current ratio of 3.41 and a debt-to-equity ratio of 0.57. Thermon Group has a 1-year low of $18.37 and a 1-year high of $27.73. The company’s fifty day moving average price is $23.79 and its 200-day moving average price is $24.03. The firm has a market cap of $865.94 million, a PE ratio of 22.03 and a beta of 1.45.

Thermon Group (NYSE:THR) last announced its quarterly earnings results on Tuesday, November 5th. The technology company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.10. Thermon Group had a return on equity of 10.91% and a net margin of 5.81%. The company had revenue of $102.90 million during the quarter, compared to analyst estimates of $92.24 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts expect that Thermon Group will post 1.35 earnings per share for the current fiscal year.

In other Thermon Group news, SVP James Pribble purchased 1,400 shares of Thermon Group stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of $21.35 per share, for a total transaction of $29,890.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Quantamental Technologies LLC lifted its holdings in shares of Thermon Group by 75.1% in the second quarter. Quantamental Technologies LLC now owns 2,099 shares of the technology company’s stock valued at $54,000 after buying an additional 900 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Thermon Group in the second quarter valued at $97,000. Tower Research Capital LLC TRC acquired a new stake in shares of Thermon Group in the third quarter valued at $103,000. Bank of Montreal Can lifted its holdings in shares of Thermon Group by 134.6% in the second quarter. Bank of Montreal Can now owns 4,718 shares of the technology company’s stock valued at $121,000 after buying an additional 2,707 shares during the period. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Thermon Group in the second quarter valued at $196,000.

About Thermon Group

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.

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