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

Key Points

• Thermon Group's stock price fell by 9.6% to $25.51 after reporting weaker than expected earnings of $0.36 per share, missing the analyst estimate of $0.37.
• The company's revenue decreased by 5.4% year-over-year, and it has a return on equity of 13.08% with a net margin of 10.74%.
• Despite the earnings miss, Wall Street Zen upgraded Thermon Group from a "buy" to a "strong-buy" rating.

Thermon Group Holdings, Inc. (NYSE:THR - Get Free Report)'s share price 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 mid-day 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 (EPS) 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's revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Thermon Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Medina Value Partners LLC acquired a new position in shares of Thermon Group in the 4th quarter valued at approximately $17,747,000. Invesco Ltd. raised its position in shares of Thermon Group by 420.1% in the 1st quarter. Invesco Ltd. now owns 269,095 shares of the technology company's stock valued at $7,494,000 after purchasing an additional 217,352 shares in the last quarter. Kennedy Capital Management LLC raised its position in shares of Thermon Group by 55.6% in the 4th quarter. Kennedy Capital Management LLC now owns 333,640 shares of the technology company's stock valued at $9,599,000 after purchasing an additional 119,277 shares in the last quarter. Nuveen LLC acquired a new position in shares of Thermon Group in the 1st quarter valued at approximately $2,577,000. Finally, Lightrock Netherlands B.V. raised its position in shares of Thermon Group by 42.8% in the 1st 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. Hedge funds and other institutional investors own 99.76% of the company's stock.

Thermon Group Stock Performance

The stock has a 50-day simple moving average of $27.77 and a 200-day simple moving average of $27.90. The company has a market capitalization of $844.13 million, a price-to-earnings ratio of 16.19 and a beta of 1.09. The company has a current ratio of 2.43, a quick ratio of 1.64 and a debt-to-equity ratio of 0.24.

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.

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