Thermon Group (NYSE:THR) Stock Price Down 8.3% - Should You Sell?

Thermon Group Holdings, Inc. (NYSE:THR - Get Free Report)'s stock price fell 8.3% during mid-day trading on Friday . The stock traded as low as $26.00 and last traded at $26.48. 65,243 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 168,567 shares. The stock had previously closed at $28.87.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Thermon Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday.

Thermon Group Price Performance

The stock has a market cap of $866.51 million, a price-to-earnings ratio of 18.91 and a beta of 1.07. The stock has a fifty day simple moving average of $27.16 and a 200-day simple moving average of $28.74. The company has a current ratio of 2.56, a quick ratio of 1.71 and a debt-to-equity ratio of 0.28.

Thermon Group (NYSE:THR - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.06. The business had revenue of $134.08 million for the quarter, compared to the consensus estimate of $133.65 million. Thermon Group had a net margin of 9.48% and a return on equity of 11.72%. Thermon Group's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company posted $0.34 earnings per share. As a group, equities research analysts expect that Thermon Group Holdings, Inc. will post 1.88 EPS for the current year.

Institutional Trading of Thermon Group

Several hedge funds and other institutional investors have recently bought and sold shares of THR. Jane Street Group LLC grew its position in Thermon Group by 24.9% during the first quarter. Jane Street Group LLC now owns 39,130 shares of the technology company's stock worth $1,090,000 after buying an additional 7,798 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in shares of Thermon Group by 43.0% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 16,260 shares of the technology company's stock worth $453,000 after purchasing an additional 4,890 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Thermon Group by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,822 shares of the technology company's stock worth $552,000 after purchasing an additional 845 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Thermon Group by 66.9% during the 1st quarter. AQR Capital Management LLC now owns 40,365 shares of the technology company's stock worth $1,124,000 after purchasing an additional 16,177 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Thermon Group by 0.4% during the 1st quarter. Royal Bank of Canada now owns 258,852 shares of the technology company's stock worth $7,209,000 after purchasing an additional 1,082 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Thermon Group Company Profile

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.