Thermon Group (NYSE:THR) Announces Earnings Results

Thermon Group (NYSE:THR – Get Rating) released its quarterly earnings results on Wednesday. The technology company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02, MarketWatch Earnings reports. Thermon Group had a return on equity of 5.14% and a net margin of 3.63%. During the same quarter last year, the business posted $0.03 earnings per share.

THR stock traded up $0.20 on Friday, reaching $15.91. 1,983 shares of the company traded hands, compared to its average volume of 104,923. Thermon Group has a one year low of $14.12 and a one year high of $20.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.11 and a quick ratio of 2.18. The company has a market cap of $530.60 million, a P/E ratio of 44.89 and a beta of 1.34. The firm has a fifty day simple moving average of $15.81 and a 200-day simple moving average of $16.91.

THR has been the subject of a number of recent analyst reports. StockNews.com lowered Thermon Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday. TheStreet raised Thermon Group from a “c” rating to a “b” rating in a research report on Friday, February 4th. Finally, Zacks Investment Research lowered Thermon Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 6th.

Institutional investors and hedge funds have recently modified their holdings of the business. Great West Life Assurance Co. Can boosted its stake in shares of Thermon Group by 134.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 2,324 shares of the technology company’s stock worth $40,000 after buying an additional 1,332 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Thermon Group in the 1st quarter worth $45,000. Royal Bank of Canada boosted its stake in shares of Thermon Group by 69.3% in the 3rd quarter. Royal Bank of Canada now owns 4,116 shares of the technology company’s stock worth $72,000 after buying an additional 1,685 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Thermon Group in the 4th quarter worth $109,000. Finally, Citigroup Inc. boosted its stake in shares of Thermon Group by 105.0% in the 4th quarter. Citigroup Inc. now owns 9,100 shares of the technology company’s stock worth $154,000 after buying an additional 4,662 shares during the last quarter. Institutional investors and hedge funds own 93.81% of the company’s stock.

About Thermon Group (Get Rating)

Thermon Group Holdings, Inc provides engineered industrial process heating solutions for process industries worldwide. Its products include electric heating products, such as air heaters and heating accessories, boilers and calorifiers, controlling and monitoring solutions, heat tracing systems, tank heating systems, thermostats, and system accessories, as well as band, strip, tubular, immersion, and process heaters; and gas heating products, including enclosure and explosion proof gas catalytic heaters, gas fired blowers, and has heating accessories that comprise regulators, valves, mounting brackets, and battery cables.

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