Thermon Group (NYSE:THR) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Thermon Group (NYSE:THR) issued its earnings results on Tuesday. The technology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01), FiscalAI reports. Thermon Group had a return on equity of 13.53% and a net margin of 8.31%.The firm had revenue of $148.33 million during the quarter, compared to analysts’ expectations of $137.85 million. During the same period in the previous year, the firm earned $0.56 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year.

Thermon Group Stock Up 3.3%

Shares of Thermon Group stock opened at $65.53 on Thursday. The company has a current ratio of 2.90, a quick ratio of 1.84 and a debt-to-equity ratio of 0.25. The company’s fifty day simple moving average is $55.34 and its two-hundred day simple moving average is $46.04. The company has a market cap of $2.15 billion, a P/E ratio of 48.90 and a beta of 0.83. Thermon Group has a 12-month low of $23.86 and a 12-month high of $71.24.

Analysts Set New Price Targets

THR has been the topic of several analyst reports. Craig Hallum downgraded shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. William Blair downgraded shares of Thermon Group from an “outperform” rating to a “hold” rating in a research note on Wednesday, February 25th. Roth Mkm downgraded shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. CJS Securities downgraded shares of Thermon Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 25th. Finally, Wall Street Zen downgraded shares of Thermon Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 1st. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Thermon Group has an average rating of “Hold” and a consensus price target of $57.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC increased its position in Thermon Group by 5.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 492,782 shares of the technology company’s stock valued at $13,167,000 after purchasing an additional 24,998 shares during the period. Kennedy Capital Management LLC increased its position in Thermon Group by 38.2% during the 3rd quarter. Kennedy Capital Management LLC now owns 440,165 shares of the technology company’s stock valued at $11,761,000 after purchasing an additional 121,634 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Thermon Group by 51.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 428,646 shares of the technology company’s stock valued at $11,453,000 after purchasing an additional 144,757 shares during the period. JPMorgan Chase & Co. increased its position in Thermon Group by 28.6% during the 4th quarter. JPMorgan Chase & Co. now owns 337,150 shares of the technology company’s stock valued at $12,528,000 after purchasing an additional 74,913 shares during the period. Finally, Deutsche Bank AG increased its position in Thermon Group by 0.7% during the 4th quarter. Deutsche Bank AG now owns 316,137 shares of the technology company’s stock valued at $11,748,000 after purchasing an additional 2,056 shares during the period. 99.76% of the stock is owned by hedge funds and other institutional investors.

About Thermon Group

Thermon Group, Inc (NYSE: THR) is a global provider of engineered thermal solutions designed to maintain process temperatures, prevent freezing and improve energy efficiency across industrial, commercial and power generation applications. The company specializes in the design, manufacture, installation and service of heat tracing systems, insulation and protective coatings for pipelines, tanks, vessels and other critical equipment.

Thermon’s core offerings include electric heat tracing, steam tracing, custom-engineered control panels, monitoring systems and advanced sensor technologies.