Thermon Group (NYSE:THR) Stock Price Down 9.6% Following Weak Earnings

Thermon Group Holdings, Inc. (NYSE:THR) shares traded down 9.6% during mid-day trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $25.44 and last traded at $25.51. 27,444 shares changed hands during trading, a decline of 85% from the average session volume of 181,061 shares. The stock had previously closed at $28.23.

The technology company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Thermon Group had a return on equity of 13.08% and a net margin of 10.74%. The business had revenue of $108.90 million during the quarter, compared to analyst estimates of $122.53 million. During the same quarter in the prior year, the company earned $0.38 EPS. The company’s revenue was down 5.4% on a year-over-year basis.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Thermon Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 24th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. American Century Companies Inc. increased its stake in Thermon Group by 1.7% in the 4th quarter. American Century Companies Inc. now owns 49,926 shares of the technology company’s stock valued at $1,436,000 after buying an additional 857 shares during the last quarter. Sei Investments Co. increased its stake in Thermon Group by 7.0% in the 4th quarter. Sei Investments Co. now owns 16,887 shares of the technology company’s stock valued at $486,000 after buying an additional 1,098 shares during the last quarter. Vanguard Group Inc. increased its stake in Thermon Group by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 3,383,299 shares of the technology company’s stock valued at $97,338,000 after buying an additional 16,112 shares during the last quarter. Norges Bank purchased a new stake in Thermon Group in the 4th quarter valued at about $230,000. Finally, ExodusPoint Capital Management LP purchased a new stake in Thermon Group in the 4th quarter valued at about $1,173,000. 99.76% of the stock is owned by institutional investors.

Thermon Group Stock Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.64 and a current ratio of 2.43. The stock has a market cap of $835.99 million, a PE ratio of 16.02 and a beta of 1.09. The company’s 50 day simple moving average is $27.74 and its 200 day simple moving average is $27.87.

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.