Thermon Group (NYSE:THR) Hits New 1-Year Low – What’s Next?

Shares of Thermon Group Holdings, Inc. (NYSE:THR) hit a new 52-week low during trading on Friday . The stock traded as low as $24.10 and last traded at $24.63, with a volume of 483 shares. The stock had previously closed at $25.97.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Thermon Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th.

Thermon Group Stock Down 3.4 %

The firm has a market cap of $845.62 million, a P/E ratio of 18.46 and a beta of 0.98. The company has a current ratio of 2.56, a quick ratio of 1.71 and a debt-to-equity ratio of 0.28. The firm’s 50 day moving average is $28.76 and its two-hundred day moving average is $29.19.

Thermon Group (NYSE:THR) last released its earnings results on Thursday, February 6th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. Thermon Group had a return on equity of 11.72% and a net margin of 9.48%. As a group, research analysts anticipate that Thermon Group Holdings, Inc. will post 1.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Thermon Group

Several hedge funds have recently modified their holdings of THR. Medina Value Partners LLC acquired a new stake in Thermon Group in the 4th quarter valued at about $17,747,000. FMR LLC increased its stake in Thermon Group by 10.0% in the third quarter. FMR LLC now owns 2,186,280 shares of the technology company’s stock valued at $65,239,000 after acquiring an additional 198,642 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Thermon Group by 15.5% in the third quarter. Wellington Management Group LLP now owns 1,324,609 shares of the technology company’s stock worth $39,526,000 after acquiring an additional 178,017 shares during the last quarter. Lightrock Netherlands B.V. acquired a new stake in Thermon Group in the fourth quarter valued at approximately $4,995,000. Finally, Kennedy Capital Management LLC grew its position in Thermon Group by 55.6% during the 4th quarter. Kennedy Capital Management LLC now owns 333,640 shares of the technology company’s stock worth $9,599,000 after acquiring an additional 119,277 shares during the last quarter. Institutional investors own 99.76% of the company’s stock.

Thermon Group Company Profile

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 offers 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.