Thermon Group (NYSE:THR) Downgraded by Wall Street Zen to Hold

Key Points

• Thermon Group's stock rating was downgraded from "strong-buy" to "hold" by Wall Street Zen, signaling a more cautious outlook from analysts.
• The company reported $0.36 earnings per share, falling short of the $0.37 consensus estimate, contributing to a 5.4% decline in revenue compared to the previous year.
• Approximately 99.76% of Thermon Group's stock is owned by institutional investors, indicating strong institutional backing.

Wall Street Zen lowered shares of Thermon Group (NYSE:THR - Free Report) from a strong-buy rating to a hold rating in a research note released on Saturday morning.

Thermon Group Stock Performance

Shares of THR stock traded up $0.66 during trading hours on Friday, reaching $26.37. The company had a trading volume of 65,808 shares, compared to its average volume of 185,627. The business has a fifty day moving average price of $27.66 and a 200-day moving average price of $27.75. Thermon Group has a one year low of $23.05 and a one year high of $33.25. The firm has a market cap of $871.83 million, a PE ratio of 16.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.64 and a current ratio of 2.43.

Thermon Group (NYSE:THR - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.01). The company had revenue of $108.90 million during the quarter, compared to the consensus estimate of $122.53 million. Thermon Group had a return on equity of 12.65% and a net margin of 10.89%. The business's revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 earnings per share. Sell-side analysts predict that Thermon Group will post 1.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Thermon Group

A number of institutional investors and hedge funds have recently made changes to their positions in THR. Medina Value Partners LLC purchased a new position in shares of Thermon Group in the fourth quarter worth approximately $17,747,000. Invesco Ltd. boosted its holdings in shares of Thermon Group by 420.1% in the first quarter. Invesco Ltd. now owns 269,095 shares of the technology company's stock worth $7,494,000 after buying an additional 217,352 shares during the last quarter. Nuveen LLC purchased a new position in shares of Thermon Group in the first quarter worth approximately $2,577,000. Lightrock Netherlands B.V. lifted its holdings in Thermon Group by 42.8% during the first quarter. Lightrock Netherlands B.V. now owns 246,725 shares of the technology company's stock valued at $6,883,000 after purchasing an additional 73,948 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in Thermon Group during the first quarter valued at approximately $1,279,000. Hedge funds and other institutional investors own 99.76% of the company's stock.

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.