Thermon Group (THR) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Thermon Group (NYSE:THR) from a hold rating to a buy rating in a report issued on Friday. The brokerage currently has $27.00 price target on the technology company’s stock.
According to Zacks, “Thermon Holding Corp. is engaged in providing engineered thermal solutions, known as heat tracing, for process industries, including energy, chemical processing and power generation. Products offered by the Company include heating cables, tubing bundles and control systems while services offered by it includes design optimization, engineering, installation and maintenance services. Its products provide an external heat source to pipes, vessels and instruments for the purposes of freeze protection, temperature and flow maintenance and environmental monitoring. Thermon Holding Corp. is based in San Marcos, Texas. “
Other equities research analysts also recently issued reports about the company. SunTrust Banks restated a hold rating and set a $20.00 price objective on shares of Thermon Group in a research report on Tuesday, October 24th. TheStreet upgraded Thermon Group from a c rating to a b- rating in a research report on Monday, October 23rd. BMO Capital Markets upped their price objective on Thermon Group from $21.00 to $24.00 and gave the company an outperform rating in a research report on Thursday, October 5th. Jefferies Group restated a buy rating and set a $25.00 price objective (up from $21.00) on shares of Thermon Group in a research report on Friday, October 6th. Finally, William Blair upgraded Thermon Group from a market perform rating to an outperform rating in a research report on Wednesday, November 29th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $24.25.
Thermon Group (NYSE:THR) last issued its quarterly earnings data on Monday, October 23rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. Thermon Group had a return on equity of 4.39% and a net margin of 5.65%. The business had revenue of $61.63 million for the quarter, compared to the consensus estimate of $61.64 million. During the same period in the prior year, the business posted $0.10 earnings per share. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. sell-side analysts predict that Thermon Group will post 0.49 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of THR. SG Americas Securities LLC purchased a new stake in shares of Thermon Group in the third quarter worth approximately $144,000. Victory Capital Management Inc. raised its holdings in shares of Thermon Group by 17.6% in the second quarter. Victory Capital Management Inc. now owns 7,904 shares of the technology company’s stock worth $152,000 after buying an additional 1,185 shares during the period. Legal & General Group Plc raised its holdings in shares of Thermon Group by 4.1% in the second quarter. Legal & General Group Plc now owns 8,143 shares of the technology company’s stock worth $155,000 after buying an additional 320 shares during the period. M&T Bank Corp raised its holdings in shares of Thermon Group by 0.8% in the second quarter. M&T Bank Corp now owns 12,062 shares of the technology company’s stock worth $232,000 after buying an additional 99 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Thermon Group by 87.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 10,480 shares of the technology company’s stock worth $248,000 after buying an additional 4,900 shares during the period.
TRADEMARK VIOLATION WARNING: This article was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The correct version of this article can be accessed at https://www.thecerbatgem.com/2018/01/13/thermon-group-thr-stock-rating-upgraded-by-zacks-investment-research.html.
Thermon Group Company Profile
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.