Y Intercept Hong Kong Ltd purchased a new position in shares of Thermon Group Holdings, Inc. (NYSE:THR – Free Report) during the first quarter, HoldingsChannel.com reports. The institutional investor purchased 22,830 shares of the technology company’s stock, valued at approximately $1,151,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of THR. Canada Pension Plan Investment Board acquired a new position in Thermon Group in the second quarter worth $31,000. Danske Bank A S bought a new position in shares of Thermon Group in the third quarter valued at about $45,000. NewEdge Advisors LLC bought a new position in shares of Thermon Group in the third quarter valued at about $83,000. Nkcfo LLC acquired a new position in Thermon Group during the 4th quarter worth about $85,000. Finally, BNP Paribas Financial Markets grew its holdings in Thermon Group by 62.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,236 shares of the technology company’s stock worth $91,000 after acquiring an additional 1,245 shares during the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on THR shares. Weiss Ratings cut shares of Thermon Group from a “buy (b)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Wall Street Zen raised shares of Thermon Group to a “hold” rating in a research note on Saturday, May 30th. Finally, Zacks Research lowered shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Six equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $57.00.
Thermon Group Price Performance
Shares of THR remained flat at $61.14 during trading hours on Friday. The firm has a 50-day simple moving average of $63.08 and a 200-day simple moving average of $52.87. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 45.63 and a beta of 0.83. Thermon Group Holdings, Inc. has a twelve month low of $23.86 and a twelve month high of $71.87. The company has a current ratio of 2.69, a quick ratio of 1.76 and a debt-to-equity ratio of 0.25.
Thermon Group (NYSE:THR – Get Free Report) last announced its quarterly earnings data on Tuesday, May 19th. The technology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Thermon Group had a return on equity of 13.42% and a net margin of 8.31%.The firm had revenue of $148.33 million for the quarter, compared to the consensus estimate of $137.85 million. During the same period in the prior year, the firm posted $0.56 earnings per share. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities research analysts expect that Thermon Group Holdings, Inc. will post 2.27 earnings per share for the current year.
Thermon Group Profile
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.
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