ValuEngine Upgrades Thermon Group (THR) to “Buy”

ValuEngine upgraded shares of Thermon Group (NYSE:THR) from a hold rating to a buy rating in a research report report published on Tuesday, ValuEngine reports.

Several other research firms have also issued reports on THR. TheStreet upgraded shares of Thermon Group from a c+ rating to a b+ rating in a report on Monday, March 4th. Zacks Investment Research lowered shares of Thermon Group from a hold rating to a sell rating in a report on Saturday, January 5th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Buy and an average target price of $28.50.

THR stock opened at $25.74 on Tuesday. The firm has a market capitalization of $847.66 million, a P/E ratio of 26.00 and a beta of 1.35. The company has a current ratio of 3.35, a quick ratio of 2.38 and a debt-to-equity ratio of 0.62. Thermon Group has a 12-month low of $18.37 and a 12-month high of $27.95.

Thermon Group (NYSE:THR) last released its earnings results on Wednesday, January 30th. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The business had revenue of $119.36 million for the quarter, compared to analyst estimates of $100.28 million. Thermon Group had a net margin of 5.50% and a return on equity of 10.70%. Thermon Group’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 earnings per share. Equities analysts anticipate that Thermon Group will post 1.15 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in THR. Wells Fargo & Company MN lifted its holdings in Thermon Group by 2.4% in the third quarter. Wells Fargo & Company MN now owns 151,909 shares of the technology company’s stock valued at $3,917,000 after buying an additional 3,596 shares during the period. BlackRock Inc. raised its holdings in shares of Thermon Group by 4.2% during the third quarter. BlackRock Inc. now owns 2,140,293 shares of the technology company’s stock valued at $55,176,000 after purchasing an additional 86,488 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Thermon Group by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,739,830 shares of the technology company’s stock valued at $44,853,000 after purchasing an additional 22,683 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Thermon Group by 6.6% during the third quarter. Renaissance Technologies LLC now owns 500,490 shares of the technology company’s stock valued at $12,903,000 after purchasing an additional 30,890 shares during the period. Finally, MetLife Investment Advisors LLC raised its holdings in shares of Thermon Group by 51.5% during the third quarter. MetLife Investment Advisors LLC now owns 24,009 shares of the technology company’s stock valued at $619,000 after purchasing an additional 8,162 shares during the period.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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