Thermon Group Holdings, Inc. (NYSE:THR – Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $29.44, but opened at $25.83. Thermon Group shares last traded at $26.80, with a volume of 9,472 shares traded.
Wall Street Analyst Weigh In
Separately, StockNews.com raised shares of Thermon Group from a “hold” rating to a “buy” rating in a research report on Saturday, September 14th.
Read Our Latest Stock Analysis on THR
Thermon Group Price Performance
Thermon Group (NYSE:THR – Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.07. The business had revenue of $115.10 million for the quarter, compared to analysts’ expectations of $115.99 million. Thermon Group had a net margin of 9.78% and a return on equity of 13.26%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 earnings per share. On average, equities research analysts forecast that Thermon Group Holdings, Inc. will post 1.98 EPS for the current year.
Institutional Trading of Thermon Group
Hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC increased its stake in Thermon Group by 2,375.0% in the second quarter. Quest Partners LLC now owns 1,089 shares of the technology company’s stock valued at $33,000 after purchasing an additional 1,045 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Thermon Group in the second quarter valued at approximately $40,000. Meeder Asset Management Inc. purchased a new position in Thermon Group in the second quarter valued at approximately $60,000. EntryPoint Capital LLC increased its stake in Thermon Group by 421.1% in the first quarter. EntryPoint Capital LLC now owns 6,331 shares of the technology company’s stock valued at $207,000 after purchasing an additional 5,116 shares during the last quarter. Finally, QRG Capital Management Inc. increased its stake in Thermon Group by 9.8% in the second quarter. QRG Capital Management Inc. now owns 6,838 shares of the technology company’s stock valued at $210,000 after purchasing an additional 608 shares during the last quarter. Institutional investors and hedge funds 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.
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