CJS Securities initiated coverage on shares of Thermon Group (NYSE:THR – Free Report) in a research report released on Monday, Marketbeat reports. The brokerage issued an outperform rating and a $42.00 price objective on the technology company’s stock.
Several other equities analysts have also recently issued reports on the stock. StockNews.com cut shares of Thermon Group from a buy rating to a hold rating in a research report on Friday, April 26th. Roth Mkm assumed coverage on shares of Thermon Group in a research report on Wednesday, March 6th. They set a buy rating and a $36.00 price objective for the company.
View Our Latest Analysis on THR
Thermon Group Trading Up 0.7 %
Thermon Group (NYSE:THR – Get Free Report) last announced its quarterly earnings results on Thursday, February 1st. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.09. Thermon Group had a net margin of 10.05% and a return on equity of 14.60%. The firm had revenue of $136.43 million during the quarter, compared to analysts’ expectations of $128.22 million. As a group, equities analysts forecast that Thermon Group will post 1.8 EPS for the current year.
Insider Transactions at Thermon Group
In related news, Director Roger L. Fix purchased 1,555 shares of Thermon Group stock in a transaction on Tuesday, February 6th. The stock was acquired at an average cost of $25.70 per share, for a total transaction of $39,963.50. Following the completion of the acquisition, the director now owns 28,273 shares of the company’s stock, valued at approximately $726,616.10. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Thermon Group
Large investors have recently bought and sold shares of the stock. FMR LLC grew its holdings in Thermon Group by 99.0% in the third quarter. FMR LLC now owns 1,841,520 shares of the technology company’s stock worth $50,587,000 after purchasing an additional 916,248 shares during the period. Vanguard Group Inc. increased its stake in shares of Thermon Group by 0.7% in the third quarter. Vanguard Group Inc. now owns 3,341,344 shares of the technology company’s stock worth $91,787,000 after purchasing an additional 24,272 shares in the last quarter. Federated Hermes Inc. grew its stake in Thermon Group by 44.0% during the third quarter. Federated Hermes Inc. now owns 258,039 shares of the technology company’s stock valued at $7,088,000 after acquiring an additional 78,826 shares in the last quarter. Meros Investment Management LP purchased a new position in Thermon Group during the third quarter valued at approximately $2,335,000. Finally, Wellington Management Group LLP lifted its position in Thermon Group by 44.8% during the third quarter. Wellington Management Group LLP now owns 1,724,846 shares of the technology company’s stock valued at $47,382,000 after purchasing an additional 533,474 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.
About Thermon Group
Thermon Group Holdings, Inc provides engineered industrial process heating solutions for process industries in the United States and Latin America, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It provides heat tracing products, such as electric heat tracing cables, steam heating solutions, controls, monitoring and software, instrumentation, project services, industrial heating and filtration solutions, temporary electrical power distribution and lighting, and other products and services.
See Also
- Five stocks we like better than Thermon Group
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- AMD is Down 35%. Now is the Time to Buy the Dip
- The How and Why of Investing in Gold Stocks
- Amazon Stands Tall: New Highs Are in Sight
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- Chesapeake Energy Stock is The Energy Play, Earnings Confirm
Receive News & Ratings for Thermon Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermon Group and related companies with MarketBeat.com's FREE daily email newsletter.