Brokerages Set Thermon Group Holdings, Inc. (NYSE:THR) Target Price at $57.00

Thermon Group Holdings, Inc. (NYSE:THR) has been assigned an average recommendation of “Hold” from the six analysts that are presently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $57.00.

THR has been the topic of several research analyst reports. Weiss Ratings lowered Thermon Group from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Wall Street Zen upgraded Thermon Group to a “hold” rating in a research note on Saturday, May 30th.

Thermon Group Price Performance

Thermon Group stock opened at $61.14 on Friday. The firm has a market capitalization of $2.01 billion, a PE ratio of 45.63 and a beta of 0.83. The company’s 50-day moving average is $62.02 and its 200-day moving average is $54.79. Thermon Group has a fifty-two week low of $23.86 and a fifty-two week high of $71.87. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.69 and a quick ratio of 1.76.

Thermon Group (NYSE:THR) last issued its 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). Thermon Group had a net margin of 8.31% and a return on equity of 13.42%. The firm had revenue of $148.33 million during the quarter, compared to analyst estimates of $137.85 million. During the same quarter last year, the business posted $0.56 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Sell-side analysts anticipate that Thermon Group will post 2.27 earnings per share for the current year.

Hedge Funds Weigh In On Thermon Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in THR. NewEdge Advisors LLC increased its holdings in shares of Thermon Group by 185.6% in the first quarter. NewEdge Advisors LLC now owns 9,105 shares of the technology company’s stock valued at $459,000 after purchasing an additional 5,917 shares during the last quarter. Amundi bought a new stake in shares of Thermon Group during the 1st quarter worth about $205,000. California State Teachers Retirement System boosted its holdings in shares of Thermon Group by 30.6% during the 1st quarter. California State Teachers Retirement System now owns 40,701 shares of the technology company’s stock worth $2,051,000 after buying an additional 9,534 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of Thermon Group by 11.9% during the 1st quarter. Quantinno Capital Management LP now owns 8,541 shares of the technology company’s stock worth $430,000 after buying an additional 910 shares during the period. Finally, Polar Asset Management Partners Inc. acquired a new position in Thermon Group in the 1st quarter valued at about $1,915,000. 99.76% of the stock is owned by 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.