Thermon Group (NYSE:THR) Shares Down 7.3% – Here’s Why

Thermon Group Holdings, Inc. (NYSE:THR) traded down 7.3% during trading on Thursday . The company traded as low as $64.35 and last traded at $64.1850. 67,858 shares traded hands during trading, a decline of 87% from the average session volume of 539,437 shares. The stock had previously closed at $69.21.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wall Street Zen lowered shares of Thermon Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 1st. Zacks Research lowered shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. CJS Securities lowered shares of Thermon Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 25th. Craig Hallum lowered shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Finally, Roth Mkm lowered shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Six equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $57.00.

Thermon Group Stock Performance

The company has a quick ratio of 1.76, a current ratio of 2.69 and a debt-to-equity ratio of 0.25. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 47.50 and a beta of 0.83. The company’s 50-day simple moving average is $57.40 and its 200-day simple moving average is $47.37.

Thermon Group (NYSE:THR) last posted its quarterly earnings results on Tuesday, May 19th. The technology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). The business had revenue of $148.33 million during the quarter, compared to analyst estimates of $137.85 million. Thermon Group had a return on equity of 13.42% and a net margin of 8.31%.The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.56 EPS. Analysts predict that Thermon Group Holdings, Inc. will post 2.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in THR. GW&K Investment Management LLC grew its position in Thermon Group by 133.4% in the third quarter. GW&K Investment Management LLC now owns 1,429,542 shares of the technology company’s stock worth $38,198,000 after buying an additional 817,138 shares during the last quarter. Clifford Capital Partners LLC boosted its stake in Thermon Group by 2,551.8% in the 4th quarter. Clifford Capital Partners LLC now owns 430,230 shares of the technology company’s stock worth $15,987,000 after purchasing an additional 414,006 shares during the period. Janus Henderson Group PLC boosted its stake in Thermon Group by 960.3% in the 4th quarter. Janus Henderson Group PLC now owns 250,813 shares of the technology company’s stock worth $9,320,000 after purchasing an additional 227,157 shares during the period. Invesco Ltd. boosted its stake in Thermon Group by 445.3% in the 4th quarter. Invesco Ltd. now owns 273,068 shares of the technology company’s stock worth $10,147,000 after purchasing an additional 222,990 shares during the period. Finally, UBS Group AG boosted its stake in Thermon Group by 287.4% in the 3rd quarter. UBS Group AG now owns 288,370 shares of the technology company’s stock worth $7,705,000 after purchasing an additional 213,935 shares during the period. Institutional investors and hedge funds own 99.76% of the company’s stock.

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.