Thermon Group (NYSE:THR) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Thermon Group (NYSE:THR) from a strong-buy rating to a hold rating in a research note published on Saturday.

Thermon Group Trading Up 2.6%

Shares of THR opened at $24.73 on Friday. The business has a 50-day moving average of $27.68 and a 200 day moving average of $27.77. Thermon Group has a fifty-two week low of $23.05 and a fifty-two week high of $33.25. The firm has a market cap of $817.57 million, a P/E ratio of 15.65 and a beta of 1.09. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.64 and a current ratio of 2.43.

Thermon Group (NYSE:THR) last announced its quarterly earnings data on Thursday, August 7th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). Thermon Group had a return on equity of 12.76% and a net margin of 10.89%. The firm had revenue of $108.90 million during the quarter, compared to analysts’ expectations of $122.53 million. During the same period last year, the business posted $0.38 EPS. The company’s revenue was down 5.4% compared to the same quarter last year. As a group, research analysts forecast that Thermon Group will post 1.88 EPS for the current year.

Institutional Investors Weigh In On Thermon Group

Several large investors have recently added to or reduced their stakes in THR. Quarry LP grew its holdings in Thermon Group by 314.1% during the 4th quarter. Quarry LP now owns 853 shares of the technology company’s stock valued at $25,000 after buying an additional 647 shares in the last quarter. CWM LLC grew its holdings in Thermon Group by 68.9% during the 1st quarter. CWM LLC now owns 922 shares of the technology company’s stock valued at $26,000 after buying an additional 376 shares in the last quarter. GAMMA Investing LLC grew its holdings in Thermon Group by 3,912.0% during the 1st quarter. GAMMA Investing LLC now owns 1,003 shares of the technology company’s stock valued at $28,000 after buying an additional 978 shares in the last quarter. State of Wyoming purchased a new position in Thermon Group during the 1st quarter valued at about $59,000. Finally, Point72 Asset Management L.P. purchased a new position in Thermon Group during the 4th quarter valued at about $192,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

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 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.