Thermon Group (NYSE:THR) Releases Quarterly Earnings Results, Hits Estimates

Thermon Group (NYSE:THR – Get Rating) posted its quarterly earnings results on Thursday. The technology company reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41, Yahoo Finance reports. Thermon Group had a net margin of 8.24% and a return on equity of 12.25%. The business had revenue of $122.48 million for the quarter, compared to the consensus estimate of $114.89 million. During the same period in the prior year, the business posted $0.31 earnings per share.

Thermon Group Stock Up 2.0 %

NYSE THR traded up $0.45 during trading on Friday, reaching $22.99. The company’s stock had a trading volume of 6,368 shares, compared to its average volume of 183,500. The company has a current ratio of 2.31, a quick ratio of 1.47 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $770.17 million, a PE ratio of 21.67 and a beta of 1.26. The business has a 50-day moving average price of $22.64 and a 200-day moving average price of $22.47. Thermon Group has a 1-year low of $13.26 and a 1-year high of $27.85.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Thermon Group in a report on Thursday, May 18th. They set a “strong-buy” rating for the company.

Institutional Trading of Thermon Group

Institutional investors have recently added to or reduced their stakes in the business. Dark Forest Capital Management LP acquired a new position in Thermon Group in the 1st quarter valued at $44,000. Great West Life Assurance Co. Can raised its position in shares of Thermon Group by 134.3% during the first quarter. Great West Life Assurance Co. Can now owns 2,324 shares of the technology company’s stock valued at $40,000 after buying an additional 1,332 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Thermon Group during the first quarter valued at about $45,000. Citigroup Inc. raised its position in shares of Thermon Group by 245.7% during the first quarter. Citigroup Inc. now owns 3,654 shares of the technology company’s stock valued at $91,000 after buying an additional 2,597 shares during the last quarter. Finally, State of Wyoming lifted its position in Thermon Group by 43.8% in the fourth quarter. State of Wyoming now owns 4,237 shares of the technology company’s stock worth $85,000 after purchasing an additional 1,291 shares during the period. 94.59% of the stock is currently owned by institutional investors and hedge funds.

About Thermon Group

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Thermon Group Holdings, Inc engages in the development, manufacture, and trade of engineered thermal solutions for process industries. It operates through the following geographical segments: United States & Latin America (US-LAM), Canada, Europe, Middle East & Africa (EMEA), and Asia Pacific (APAC).